Developer Nexus Residential has acquired the £50m residential development close to Liverpool city centre from YPG Developments for an undisclosed fee. Tony McDonough reports

Developer Nexus Residential has acquired a £50m residential scheme in Liverpool from YPG Developments.

One Baltic Square, in Grafton Street close to the city centre, is currently under construction and will provide 296 apartments when completed towards the end of 2021. Nexus has bought the scheme for an undisclosed fee.

It has appointed Legacie Contracts to complete work on the development and is aiming to have the first units ready for hand over by the end of 2021. It will include one, two and three-bedroom apartments.

Michael Gledhill, director of Nexus Residential, said: “We are delighted to have agreed the acquisition of One Baltic Square from YPG Developments and would like to thank them for bringing the development to this stage of construction.

“This is a key strategic site located in the southern gateway to the Baltic Triangle and adjacent to the famous Cain’s Brewery. It is a truly landmark site. We will be creating a large landscaped public piazza as the centrepiece of the development as well as four large commercial units and underground car parking.

We’re looking forward to completing the site and handing over to our rental management team. This is an exciting period for Nexus as we grow our work in Liverpool. One Baltic Square fits nicely with our other current projects in the city including Element – The Quarter and City Residence – The Apartments.”