Liverpool developer Legacie acquires existing residential development in the city and says it will spend £5m on a transformation that will include the installation of jacuzzis. Tony McDonough reports
Liverpool developer Legacie is to invest £5m in the transformation of an existing apartments complex.
Legacie has acquired a building previously known as Spectrum in Duke Street in the city centre from Grainger PLC for an undisclosed sum. It was completed in 2008 and comprises 32 one and two-bedroom apartments and four penthouses.
Renamed ‘The Mercantile’ to reflect the trading heritage of the Duke Street Conservation area, the building will undergo a significant upgrade. Each of the four penthouses will see jacuzzis installed on the terrace.
Legacie will also completely redesign the central atrium to include communal breakout areas, with a 12-month projected build time. The firm is creating five apprenticeships to coincide with the scheme and estimate a further 30 people will be employed on site.
International sales agent, RWinvest, has partnered to promote the scheme while Legacie Contracts will handle the construction element.
John Morley, chief executive of Legacie, said: “We are committed to refurbishing the building to the highest standards, including the full redesign of the central atrium to offer modern, comfortable and luxury living space.
“It has been an exciting start to 2024 for Legacie and this deal further underlines our commitment to Liverpool city centre.
“I am pleased Legacie has once more stepped forward to deliver on a site which has real potential while providing a further economic boost in the area.”
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Director at RWinvest, Michael Gledhill, added: “We are excited to bring further luxury homes to an exciting area of Liverpool city centre which is experiencing an unprecedented amount of growth.
“We are committed to promoting the city and I am delighted to work once more with Legacie as we offer both luxury living and new jobs for local people.”