Developer Nexus Residential secures £20m investment towards £35m cost of residential development just outside Liverpool city centre. Tony McDonough reports
Nexus Residential has secured a £20m cash injection from specialist investor Maslow Capital for its £35m Baltic Triangle development.
In January Nexus started work on Central Park, which is located just south of Liverpool city centre. Due to be completed in late 2025 the project comprises a mix of 174 one, two and three-bedroom apartments.
This is the third investment Nexus has received from Maslow Capital, which is part of the Europe-wide Arrow Global Group asset management specialist. The other two investments were in One Baltic Square in Liverpool and Merchant’s Wharf in Salford.
Maslow is also investing £45m into a 31-storey residential tower being built in Princes Dock in Liverpool Waters. Liverpool construction firm Vermont is delivering that scheme on behalf of Starlight Investments, a Canadian property investor.
Central Park will also include a five-star hotel-style reception and concierge, as well as a private roof terrace with views of Liverpool’s Anglican Cathedral. And there will be cycle storage, underground car parking and a gym for residents.
A further £1m has been invested into an adjoining public piazza with arches inspired by the iconic Royal Albert Dock, which will also include sculptures, floral arches, trees, benches, alcoves and artwork.
This development will offer eco-friendly features such as solar panels, electric vehicle chargers, heat recovery systems, LED lighting and air source heat pumps, with Nexus set to deliver a centralised residential island.
Legacie is the main construction company delivering Central Park. Legacie has previously led on several eco-installations at sites such as Reliance House and Element – The Quarter in Liverpool.
The scheme is being promoted by the international sales agent, RWinvest, who have successfully pre-sold all the new homes off-plan.
Nexus has also paid around £350,000 in section 106 contributions to Liverpool City Council. These funds will directly support planned enhancements to the adjacent park on Gore Street, to the benefit of the local community.
And contributions will cover off-site tree planting in the local area, improvements to the city centre, and a contribution to public art. Once the development is completed, the total section 106 contributions to enhance the local area will be around £500,000.
Michael Gledhill, managing director of Nexus, said: “We are really pleased to have agreed this funding facility with Maslow Capital, which helps continue our relationship.
“Central Park will help bring much needed, high-quality homes to an increasingly popular part of the city. It has once again been a pleasure to work with Maslow and Sky Mapsom and Rachael Gordon from their origination team in completing the funding of this project.”