Overseas investors snap up off-plan apartments at £6.5m Liverpool student development

Developer Yu Property Group is behind the redevelopment of Liverpool’s Salters Building into 94 student studios, all of which have now been sold. Tony McDonough reports.

Computer-generated image of a new £6.5m student development in Pembroke Place
Computer-generated image of a new £6.5m student development in Pembroke Place

Overseas investors have snapped up units in a new £6.5m student development in Liverpool city centre – just six weeks after work started.

Developer Yu Property Group (YPG) is behind the redevelopment of Liverpool’s Salters Building into 94 student studios, all of which have now been sold.

Work started on site in August by YPG Developments, the construction arm of YPG, to build the six-storey 40,000 sq ft residential development, located on 4-10 Pembroke Place.

Designed by architects Smith & McHugh, project will comprise of 94 self-contained student studios, ground floor retail space, a student management office, cycle storage and laundry facilities.

Located next to Liverpool University’s north campus, Royal Liverpool University Hospital and Lime Street Station, the planning permission for the development was granted in July 2015 and is due for completion in July 2017.

Interior of a new £6.5m student development in Pembroke Place
Interior of a new £6.5m student development in Pembroke Place

Jonathan Yu, managing director of YPG, says: “Just six weeks since builders moved on to the site, the response to Pembroke Studios has been huge.

“It’s an exciting time for Liverpool’s Knowledge Quarter, and with LJMU’s Copperas Hill development underway just around the corner, the studios are a great addition to the ongoing investment in the area.

“Overseas interest has been key to the overwhelming success of Pembroke Studios, and with investors’ interest in the city’s residential offering remaining strong in the wake of Brexit, their faith in Liverpool’s property market is evident.”

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