With criminals on one side and street workers on the other, the hosts of TV show Location, Location, Location would struggle to flog the latest des res to join Preston's skyline.

The new owners of the former County Arms, on the corner of Deepdale Road and Ribbleton Lane, have said they will wait for the property market to pick up before they start work.

Paul Finnerty, a spokesman for owner businessman Edgar Wallace, said the site could even be sold off to the highest bidder with planning permission.

Preston Council gave approval to the plans for the block – which could house 32 student bedrooms – in April and work must start within three years.

The spokesman said: "There is quite a lot of interest from people looking to buy the land and that is something we are considering at the moment.

"It is a very visible site and we want to put something truly iconic on it which I think is what the designs we have for the site show."

He added that permission had been granted for student accommodation but said it was possible that could be "tinkered with" to be turned into flats or a mixed-use development.