Crossfield Exclusive Developments has acquired the Baltic Triangle site that was originally being turned into student accommodation by North Point Global. Tony McDonough reports
A half-built property development in Liverpool’s Baltic Triangle that ground to a halt last year is being brought back to life by another developer.
Crossfield Exclusive Developments has acquired the former North Point Global scheme, called Baltic House, in Norfolk Street out of liquidation. Another North Point Global project in Pall Mall was also bought out of liquidation by another developer, Elliot Group, a few days ago.
Crossfield Construction, a division of Crossfield Group, would be the appointed construction partner to ultimately take the proposed scheme forward, with an outline completion date of 2020.
The previous scheme a planning consent for 150 student units along with commercial units, communal area and service area but Crossfield has not yet revealed the details of its scheme.
David Ayem, director at Exclusive Investments, said: “This development, if properly executed, has enormous potential to transform the area around Norfolk Street and bring an attractive, sustainable addition to the wider Baltic Triangle.
“We recognise there may be negative connotations around the site’s past, but this is a new dawn for the project and its future is now in safe, local hands.”
David Cain, director at Crossfield Group, added: “If our revised plans are approved, there is huge employment potential for local people. We are likely to appoint up to ten new full-time positions to Crossfield directly, whilst our supply chain will see a further 300-400 workers on the site, all of whom would be local.
“This is integral to some of the positive outcomes we will expect from the construction of the scheme.”