Peel and Regenda seek planning consent for £21m residential tower at Liverpool Waters

Peel will develop the £21m building at Princes Dock, comprising 105 one and two-bed apartments, and will then sell it to Liverpool housing group Regenda. Tony McDonough reports.

Plaza 1821, a £21m residential tower planned for Princes Dock, Liverpool

Peel Land and Property and the Regenda Group have submitted a planning application to build a £21m residential tower at Princes Dock in Liverpool.

Princes Dock is part of Peel’s wider £5.5bn Liverpool Waters regeneration scheme.

The firm will develop the £21m building, comprising 105 one and two-bed apartments, and will then sell it to Liverpool housing group Regenda.

This will be the Peel’s first Private Rented Sector Scheme (PRS). PRS is a class of investment into schemes which are ‘built-to-rent’ and has become increasingly popular with institutional investors.

The tower will be called ‘Plaza 1821’, commemorating Princes Dock’s opening on the day of the Prince Regent’s coronation as George IV in 1821.

Plaza 1821, a £21m residential tower planned for Princes Dock, Liverpool

It will be managed by Regenda’s subsidiary PRS company, Redwing Living.  There will also be commercial space on the ground floor.

Neil Baumber, Peel Land and Property’s development director for residential, said: “Plaza 1821 is the latest and significant piece in the jigsaw for Peel’s vision at Liverpool Waters, as it will bring much-needed quality residential apartments to a vibrant waterfront location.

“Liverpool Waters is an important part of our Strategic Waters strategy and is one of the most dynamic regeneration projects in the city’s history.

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