This Preston hotel development could be yours for £500,000

A hotel development scheme in the centre of Preston has gone on the market.

The Caxton Hotel site in Marsh Lane is being offered for £500,000 by agents Christie and Co, who highlight its proximity to the Tram Shed designated redevelopment area.

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Plans for nine-storey, the 63-room hotel with a restaurant and a bar were approved in 2019. At that time, Preston Councillor Peter Moss said: “It’s a sign of the growing success and reputation of our city.”

When built, the hotel plans - originally brought forward by Ascena Developments - would see an existing two-storey building demolished. In 2019, a spokesman for planning agents PWA said: “It is in the Corporation Street Opportunity area. It is a highly sustainable site.”

The representative went on to talk about how William Caxton, who as a printer was the first English retailer of printed books, has inspired the built for the hotel which designs show is to be called The Caxton.

He called the plans a “landmark scheme” and a “valuable opportunity to secure investment” which would “compliment adjacent, recent developments”.

Condition

When plans were approved, a condition was put on the scheme, that building work had to be started within three years. It is not clear whether the plans are still current nearly five years on.

The Post has contacted Christie and Co.