Another 278 apartments are added to Liverpool waterfront in a 31-storey tower in a £50m scheme that stalled twice. Tony McDonough reports
Liverpool builder Vermont has completed a 31-storey residential tower at Princes Dock in Liverpool Waters after the project stalled twice over several years.
Estimated to cost around £50m, the 278-home Lighthaus build-to-rent (BTR) development will see its first tenants move in later this month. It offers a mix of studio, one, two, and three-bedroom apartments as well as a ‘sky lounge’ with panoramic views.
In January 2024 Vermont broke ground on the development, originally called Patagonia Place. It had stalled on two previous occasions after Your Housing Group (YHG) pulled out.
YHG sold the project to X1 Developments and in September 2023 LBN reported Canadian investor Starlight Investments had secured a £45m loan from Maslow Capital to complete the build.
Starlight, which has a North American property portfolio worth more than £20bn, retained X1 as development manager. Vermont had been attached to the scheme for several years and was given the green light by X1 to start building.
Lighthaus also includes a fitness centre, co-working spaces, 24-hour concierge service, and a residents’ lounge.
This project has also created vocational pathways during construction, including permanent positions, apprenticeship schemes, and work experience placements through the City of Liverpool Construction Academy also located within Liverpool Waters.
Mark Connor, chief executive of Vermont, said: “This project underscores Liverpool Waters’ growing reputation among global investors and Peel’s ambitious plans for the development of Liverpool’s waterfront.
“Lighthaus has delivered more than just an impressive BTR residential landmark for the area – it has also allowed Vermont and its supply chain to develop local skills and training opportunities through employment and apprenticeship programmes thanks to the City of Liverpool Construction Academy.
“A big thanks to our partners Peel Waters with X1 Developments and Starlight Investments, whose continuing commitment and investment have been vital to achieving the project’s successful delivery.”
It joins a cluster of residential developments in Princes Dock. These include Moda Living’s 34-storey skyscraper, the Lexington, and the £21m 16-storey Plaza 1821, No 1 Princes Dock and Alexandra Tower.
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Nick Sweeney, chief executive at X1 Developments, added: “This ambitious development which provided employment opportunities for numerous local businesses and individuals has culminated in the completion of a stunning residential building on the prestigious and iconic Liverpool waterfront.”