Hunt for shops to join new £18m Friargate retail zone

An agent has been appointed to market shops at a flagship city development.

Saturday, 14th May 2016, 12:41 pm
Updated Saturday, 14th May 2016, 3:05 pm
The Portergate scheme

Commercial property expert Lambert Smith Hampton has been given the brief for the retail zone of Portergate Development’s £18m regeneration of Preston’s Friargate.

It is set to begin marketing the retail units which make up part of the mixed-use project. They will be available to let later this year.

The 6,000 sq ft of retail space can be split into three units, ranging in size from 750 sq ft to 4,000 sq ft.

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The retail zone sits beneath the 244-bedroom development which will provide boutique hotel-style accommodation aimed at local students and employees of Preston’s high-tech manufacturing sector and new Enterprise Zone. The first phase of the Friargate development, which is being built by Preston construction company The Eric Wright Group, is scheduled for completion later this year.

Gareth Hine, associate director at Lambert Smith Hampton in Manchester, said: “The new development sits in a prime position on one of Preston’s busiest thoroughfares between the University Quarter and the city centre.

“The area is beginning to be transformed at Portergate’s development is playing a key role in the regeneration of this historic part of the city.

“The University of Central Lancashire has committed an investment of £200m towards the development of the Adelphi Square campus.

“Their vision over the next 10 years is to create a unified, sustainable and welcoming campus which will enhance the experience for all those visiting the university, seamlessly integrating with the rest of the City. Friargate is set to really benefit from that project.”