Liverpool developer Legacie will invest up to £20m reviving a stalled residential scheme just outside the city centre. Tony McDonough reports
A Liverpool property developer is to revive a stalled residential project just outside the city centre, investing up to £20m
Legacie Developments is to pick up the Parliament Residences residential scheme, comprising 145 apartments in Liverpool’s Baltic Triangle, which was placed into receivership in November last year.
The firm, which is currently building the £90m Parliament Square residential scheme nearby, says the revived development will also include commercial office space and will see an investment of between £15m and £20m.
John Morley, managing director at Legacie Developments, said: “The site is currently in a dangerous condition from the damage that has been caused since the site stalled. It requires significant investment, and the support of Legaice’s expert team, to bring it to standard.
“Our vision is to create a quality residential development on this site so that Liverpool is not left with another stalled scheme or unfinished building site. Legacie has a track record of delivery in Liverpool and so we hope to revive this project to make it something the city can be proud of.”
Legacie was named ‘Developer of the Year’ at the Downtown in Business Awards in 2019 and collected the High Rise Development of the Year accolade at the International Property Awards in December for its work on Parliament Square.
It will also shortly start work on the £40m Merchants Wharf residential development at Salford Quays. The company has successfully delivered a number of other residential projects including Ropemaker Place on Renshaw Street in Liverpool and the restoration of Reliance House on Water Street.