I have managed to solved this, a version of my code is below if others have this problem.

On another note PreValues seem to have been removed from the Umbraco Wiki / Documentation

Controller:

[ChildActionOnly]
[ActionName("NAME")]
public ActionResult NAME()
{
    return PartialView("~/Views/Partials/NAME.cshtml", new MODELNAME{NAME = GetSelectListForNAME()});
}

        private SelectList GetSelectListForNAME()
        {
            var preValueDataType = Umbraco.DataTypeService.GetPreValuesCollectionByDataTypeId(1301); //Change Data Type ID
            var preValues = preValueDataType.PreValuesAsDictionary.Values.Where(pdv => pdv.Value != "0");

            var namesList = preValues.Select(preValue => new SelectListItem
                {
                    Value = preValue.Id.ToString(),
                    Text = preValue.Value
                })
                .ToList();
            return new SelectList(namesList);
        }

Model

public SelectList NAMES { get; set; }

public string NAME { get; set; }

Razor View

@Html.DropDownListFor(model => model.NAME, Model.NAMES.Items as List)