The 96-metre development scheme would be the tallest residential building in Lancashire.

The £40m Altura tower on Derby Street features 218 apartments with seven Grade A office spaces on a site currently being used as a ground-level car park.

The construction phase will last approximately 30 months after breaking ground.

Steven Gallagher, managing director of the design practice David Cox Architects said: “Altura has taken three years of design development and evolution, and an unwavering commitment from a team of dedicated professionals. We are all proud to be playing a part in shaping the future of Preston.

“Once complete, Altura will be an elegant, contemporary building; one that celebrates Preston’s growing status as a dynamic urban centre. We are confident that it will make a meaningful and lasting contribution to the city’s evolving skyline. We look forward to seeing Altura take its place as an inspiring symbol of the city’s progress and ambition.”

TSS Property is currently delivering City Walk on another Preston brownfield site – a £20m development comprising 122 apartments which is due to open later this summer.

Preston City Council registered the planning application this week and a decision is expected later this year.