Finance group commits £93m for city centre residential development

Liverpool-based property developer, Legacie, has secured a £93.5m funding deal with Maslow Capital to bring forward The Gateway, a new residential development in the heart of the city.

The package will enable Legacie to progress with the development, which is poised to be a key part of Liverpool’s ongoing regeneration efforts. The Gateway is one of the largest private investments into Liverpool’s residential market in the city’s history and is expected to play a pivotal role in transforming the Pumpfields area into a vibrant, thriving residential community.

The project, which will bring in more than £1m per year in council tax receipts, will see the construction of 656 high quality residential units, marking a major contribution to the growing demand for housing in the city.

In addition to delivering housing, the development will feature extensive green spaces accessible to the public, commercial units on the ground floor, and a wide array of amenities for residents, including a ‘Garden Spa’ with a swimming pool, fully fitted gymnasium, residents’ lounge, cinema, podcast booths, and private dining areas.

This combination of residential and commercial elements is expected to invigorate the local economy, creating thousands of jobs during construction and providing long term economic benefits as residents contribute to the local economy through council tax and spending in the area.

John Morley, Legacie CEO, said: “We are thrilled to continue our partnership with Maslow Capital to deliver The Gateway.

“This is the largest funding deal in the history of our partnership with RWinvest, and it marks a significant milestone for us. It not only reinforces Legacie’s commitment to providing high quality residential spaces, but also responds to the growing demand for well located housing in the city.

“The project is set to transform a brownfield site into a dynamic urban community, with green spaces, modern amenities, and a sustainable design that aligns with Liverpool’s regeneration ambitions.”

James Henry, Director of Origination at Maslow Capital, said: “Maslow Capital has a well established track record of supporting high quality living sector assets in the North West, and our £93.5m financing to develop an additional 656 residential units is another significant contribution to the supply of housing in the region.

“Having previously supported Legacie across multiple projects in the region, the Maslow Capital team looks forward to continuing this relationship and seeing this scheme come to life throughout the construction period.”

Michael Gledhill, Director at RWinvest, said: “We’re excited to see this game changing development take shape in Liverpool.

“The Gateway is not only one of the largest private investments into the city’s residential market, but it will also create hundreds of jobs during the construction process and in the long term with residents contributing to the local economy.

“It would be great if Liverpool City Council’s planning and regeneration departments continue to be supportive and efficient, helping to ensure that such an ambitious project runs smoothly and quickly. This is truly a transformational development for the city.”

The Gateway, which is already 90% sold out through RWinvest, shows the strong demand for high quality residential spaces in Liverpool.

Hill Dickinson advised Legacie on the funding deal.