Downing JV plans more student rooms

A TIE-UP between the develop Downing and two executives at Manchester pensions provider AJ Bell has put forward a further phase for a student scheme in Liverpool’s Islington district.

Last month planners approved a £60m plan by Islington Regeneration for four high rise blocks with 860 beds.

Now plans have been submitted for a further three towers, ranging from eight to fifteen storeys, with 738 beds in Norton Street.

Andrew Bell, chief executive and major shareholder of AJ Bell, and Fergus Lyons, managing director of the firm’s Sippcentre division, each have 25% in the Islington Regeneration, while Downing has the remaining 50%.

Downing has been in talks with the city council about regenerating a 20-acre area of Islington for nearly 10 years but progress has been held back by the recession.

Paul Houghton, Downing’s development director, said: “We’re delighted to be moving ahead with our plans for Islington – this is an ambitious scheme which will play a significant role in regenerating this area of the city. Liverpool has made great strides in terms of regeneration in the last decade, but there are still large pockets of the city which are in need of stimulus to give them a new lease of life. Our scheme will provide that impetus in Islington.

“As is evident through the successful projects we’ve already delivered in the city, such as The Arch in Chinatown, we’re committed to Liverpool and are very positive about the future of the city.”

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