Historical hotel restoration gets funding boost

Funding has been secured to restore a 143-year-old former luxury hotel that had been used for council offices in Preston.

Planning permission was granted for the redevelopment of the old Park Hotel two years ago, with the Heaton Group wanting to convert the property into a 92-room hotel and 239 apartments.

But the blueprint for the project has yet to be brought to life, with the site having been empty and fallen into increasing dereliction since 2011 when it was vacated by Lancashire County Council.

Now the Heaton Group have received a loan to finance the purchase from The Local Pensions Partnership, which owns the building.

The vision has long been to convert the property – often likened to a Disney castle – into an "apart-hotel" and to build two residential apartment blocks in its grounds.

But since the project was approved by Preston City Council in 2024, it has been delayed due to a wrangle over affordable housing and fire safety regulations, the Local Democracy Reporting Service said.

The "six-figure bridging loan" from property lender Together would enable the creation of what it describes as "a destination to attract visitors to Preston, whilst bringing back to life an impressive building".

"This is an exciting opportunity to bring one of Preston's most iconic buildings back to life," said Ritchie Watson, from Together.

"Our finance has enabled The Heaton Group to secure the site and begin the journey of transforming it into a vibrant destination that will benefit the city for generations to come."

Heaton Group said: "The Park Hotel is a cornerstone of Preston's heritage.

"We're proud to be delivering a scheme that combines regeneration, hospitality and housing.

"Together's support has been crucial in making this acquisition possible and having a long term partnership with Together has meant we have been able to move quickly, and begin bringing a very special piece of history back to life."

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