A £12m residential scheme in north Liverpool will be ideal for Everton fans as it is just a few streets away from the club’s new £500m stadium. Tony McDonough reports
A £12m residential development just a few streets away from Everton’s new £500m stadium is set for completion in October.
Developers Nexus Residential and Legacie Developments have secured £10m in development finance to complete City Residence. It will include 78 one and two-bedroom apartments in Kirkdale.
And property investment firm, RWInvest, has already successfully sold all of the apartments off-plan on behalf of the developers. The units are spread across four separate blocks.
Upper floor apartments will offer views of the River Mersey and waterfront. Some will also overlook the site of Everton’s Bramley Moore Dock stadium. This is currently under construction in Liverpool Waters.
Lender Together is providing the £10m of development finance. John Morley, chief executive of Legacie Developments, said: “This is an exciting partnership with Nexus Residential and we are delighted to be working with Together again.
“Its investment will help us bring new life to an important part of a key Liverpool regeneration zone. Not only that, it is a solid demonstration of confidence in the Liverpool property and construction sector.”
Legacie also partners with Nexus on other developments. These include Liverpool’s first ‘eco’ residential scheme known as ‘The Rise’. Construction on the £40m, 450-unit project, close to the Knowledge Quarter, will complete early in 2023.
Michael Gledhill, managing director of Nexus Residential, added: “Bringing a large institutional funder such as Together to Liverpool is fantastic news. This is a major investment. It will create jobs and regenerate the area on a former brownfield site.”
Earlier this year, Legacie Developments announced a funding deal with Together on the £90m The Residence development in Salford. This latest scheme also marks another successful collaboration between Legacie and RWInvest.
Bradley Ashley, senior sales manager at RWinvest, said: “We are all excited to see the development once it’s completed towards the end of the year, as it will completely transform the area.”