PRESTON'S Winckley Square could soon become the next hot spot for young professionals looking for trendy city centre apartments.

The exclusive park-side development at number 22, the Preston Citizen's former offices, is a huge Victorian terrace that will be transformed into seven exclusive apartments, subject to planning, by a Manchester-based firm, Portergate Residential Developers.

The apartments are being refurbished and will be on the market just before Christmas, although no price has been agreed yet, according to a spokesman from Portergate.

He said: "Preston is an up and coming area and we are taking an interest in buying property in Fishergate and Starkie Street. The place has a heart and Winckley Square is quite special."

This luxury development in Preston could be the sign of things to come according to cabinet member for regeneration, community and leisure Councillor Veronica Afrin.

She said: "Residents make the city centre come alive and that's what we need. Many young people like this trendy living."

The site in Preston follows a move towards city-centre living in other North West cities such as Liverpool and Manchester where property-developers like Urban Splash have transformed old warehouses for residents who move in from the suburbs.

Coun Afrin said: "The council did start an above the shop scheme so that the big space above the stores in the centre could be used.

"In Preston we have a precious greenbelt and that stops land from being developed, which means the centre is ideal as a base."

But fashionable city apartments may not be the best move financially according to one estate agent. Steve Kane, director of Chapel Property Services Ltd, Church Street, Preston, said anyone thinking of buying would be wise to invest in suburbs like Walton-le-Dale or Lostock Hall.

He said: "There's been a 14 per cent increase in property prices in the last year, although it will take a while for Preston to catch up with London."

But he said buyers will have to be quick as there are many eagle-eyed southerners taking chances on snapping up houses in Preston.

He said: "The average price for a three-bedroom semi here is £80,000 and down south it's more than double that."