[Last updated April 2023] A guide to serviced offices and office space for rent in Preston as well as general information that may be useful if you are considering renting office space in the city.
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History & Geography
Located on the north bank of the River Ribble, Preston is the administrative centre of the county of Lancashire. The city lies northwest of the beautiful Forest of Bowland and east of the Fylde coastal plain. Like many urban centres in the North West of England, Preston started life as a Roman fort around which a civilian settlement sprang up. After the departure of the Romans from Britain, the settlement continued to thrive, due in no small part to its strategic location on the River Ribble. It is believed that the settlement acquired its name after St Wilfrid set up a priory on the lowest ford of the Ribble and people started referring to the area as ‘Priest’s Town’ or Preston. After the invasion of Britain by the Normans in 1066, Preston was further fortified by William the Conqueror, who appreciated the strategic importance of the town. By the 13th century, Preston had become the most prosperous town in the region and continued to expand. Later, during the English Civil War in the 17th century, Preston was the site of a major battle due to its location between Glasgow and London. Then later in the century, during the Jacobite rebellion, another decisive battle was fought in the area. During the 19th century, with the advent of the Industrial Revolution, Preston was completely transformed from its existence as a mid-sized market town to an industrial centre. Cotton mills sprang up quickly and the area became a bulwark of the cotton processing industry. It also became the first English town outside of London to be lit by gas. Preston’s industry caused its population to swell rapidly and by 1901, the city had a population of over 100,000. However, after WWI, the cotton industry collapsed and Preston’s economy suffered. The town’s fortunes revived when it became an electrical goods manufacturing centre in the mid-20th century, though this industry too declined in the 1970s. Towards the end of the century, Preston faced economic deprivation and housing issues. However, the town has been the subject of regeneration and today its economy has revived.
Economy
Today, Preston has a thriving and fairly diversified economy. The city is an important centre for the British defence aerospace industry. BAE Systems which has two major facilities in the area in BAE Warton and BAE Samlesbury and n the city itself, the outfit has a large office in the Portway area. Other companies with a strong presence in the city are The Carphone Warehouse, Westinghouse Electric Company, Matalan, and Spar. Additionally, Preston is home to many financial services companies, including consultancies, insurance firms and law firms. Another bulwark of the local economy is retail, with the two main centres being Fishergate Shopping Centre and St Georges Shopping Centre. A new central business district is currently being planned for the city and of late a large number of residential projects have been initiated in the surrounding area. Additionally, several office and hotel space projects are also currently being planned for the city.
Culture & Sites
Tourism is not a major part of Preston’s economy, however, the city does have a range of sites and activities for visitors. St Walburge’s Church in Preston was designed by the famous Joseph Hansom and boasts the tallest spire in England on a church that is not a cathedral. Among the other notable buildings in Preston are Miller Arcade, the Town Hall, the former Corn Exchange, St Wilfrid’s Catholic Church and the Harris Museum. The city’s Winckley Square is also renowned for its Georgian buildings. Preston is also home to a range of parks including Avenham Park, Ashton Park, Moor Park, Miller Park and Ribbleton Park. Preston is also famous for its football team, Preston North End FC, which plays out of its Deepdale stadium which is also home to the National Football Museum Research Centre. Preston North End was one of the founders of the football league and was the first team ever to be crowned champions of England.
Transportation
Preston railway station features regular train services to London Euston, Glasgow, Edinburgh, Aberdeen and Fort William. The station is also a hub for rail services connecting in the North West and has direct services to Blackpool, Lancaster, Blackburn, Bradford, Leeds, Wigan, Bolton, Liverpool and Manchester. Within the city itself, the main form of transportation is the bus lines and there are several companies running services in the city. Many national bus services also stop at Preston, including National Express, Stagecoach Express, Eurolines and Megabus. Preston is close to three major airports, Manchester Airport, Liverpool John Lennon Airport and Blackpool International Airport. All of these are accessible from Preston railway station.
Office space to rent in Preston
In 2013, following the Great Recession, Preston was undergoing a time of regeneration and investment. A major new central business district was being planned for the city to meet the requirements of existing businesses and future ones.
Part of the purpose of the new CBD was to secure new public sector relocations for Preston. The North West office market overall is traditionally fairly reliant on the public sector and Preston is no different. The strategy behind the new CBD was to make Preston a viable alternative to the other major cities in the North West, namely Liverpool and Manchester. Several factors, however, have held back the development of the office market in Preston city centre, mainly traffic congestion and lack of parking. The average rent for Grade A office space in the city without parking was £10 per square foot per year in 2013.
In 2020, it was announced that plans for the long-awaited Altus Building – a 350,000 sq ft Grade A office building suitable for national, Government and local tenants, would be dropped. This would have delivered the only high-quality Grade A office space in the city.
In 2023, refurbished Grade B office space was being quoted at £14 per square foot per year.
There are 6 flexible office space providers in Preston that offer workspace solutions that are alternatives to renting an office on a lease in the traditional manner.
The solutions include private serviced office suites, managed offices and corporate coworking memberships.
Profiles of all of these providers can be seen in this directory.
We carry out a free office space search and our advisory and acquisition services are also free, always. Our Preston office space brokers and agents are globally regulated by the Royal Institution of Chartered Surveyors (RICS) ensuring the highest standards of commercial property advice and service at all times. We look forward to helping you find the best office space for rent for your business.
The Office Providers are Regulated by the Royal Institution of Chartered Surveyors (RICS)