Developer Ladson Group has secured funds to proceed with two major office-to-residential conversions in the centre of Preston.
The developer has completed a funding deal with Amicus Property Finance to allow it to purchase two former council-owned buildings in the city centre to convert into residential use.
Winckley House (pictured above), a 43,000 sq ft mixed four and six-storey office building, will be converted into 76 apartments, while Guild House (pictured below), a 28,000 sq ft office, will include 46 apartments over four floors.
Guild House, which has been vacant for five years, has pre-sold all its apartments, while Winckley House is around 40 per cent pre-sold.
Amicus confirmed to Construction News that a main contractor is yet to be appointed for both schemes.
The two projects, which secured planning permission last year, sit near Winckley Square, which underwent a £1.2m restoration last year led by contractor Barton Grange Landscapes.
Amicus Property Finance divisional director Yasin Patel said: “We are delighted to have provided funding for these two sites which would have no doubt become more and more run-down without the vision of Guy Ladson at Ladson Group.
“We were really impressed with Guy and to complete within two weeks helped the site to secure more than 60 per cent of pre-sales.”
Guild house, Preston