Sales agent raises £300m for Liverpool developer

Property sales agent RWinvest has raised more than £300m from overseas investors to fund schemes by Liverpool developer Legacie – and there is more in the pipeline. Tony McDonough reports

Legacie Developments
Work on the £90m Parliament Square in Liverpool is well under way

 

A property sales agent has raised more than £300m from overseas investors for Liverpool developer Legacie Developments.

RWinvest, which is also based in Liverpool, has helped Legacie fund its recent spate of residential developments in the city by raising funds from investors around the world. Now a number of new developments are in the pipeline.

Developments delivered, or under construction, include the £11m Ropemaker Place scheme in Renshaw Street, completed in 2019, and Parliament Square, a £90m project well under way which will see 500 apartments across five blocks in the Baltic Triangle.

RWinvest, which was established in 2004, has acted on behalf of Legacie to attract investors for its properties from around the globe. New ventures include Liverpool’s first major eco-friendly residential development Element The Quarter and One Baltic Square. They are also collaborating on a project in Salford Quays.

Legacie Developments founder, John Morley, said: “The RWinvest name has become synonymous with success in the UK property market. It is a highly respected and regarded business and has worked closely with us to secure national and international investors for our residential developments in Liverpool.

Ropemaker Place
Legacie delivered the £11 Ropemaker Place scheme in 2019

 

“We have forged a powerful partnership and are now seeking to expand our relationship further by working closely on other developments around the country. We are also going to be announcing new developments in London, Luton and the south-east in the near future.”

In May, Legacie said it has offered employment to 600 construction workers over the past 12 months and said it will take on another 200 by the end of 2021.

Michael Gledhill, director at RWinvest, added: “Legacie’s track record speaks for itself. The company has built some of the most important private-sector led residential developments in Liverpool in the last decade. It is a company that people want to invest in. We are proud to represent them and continue to grow our relationship with them.”

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