Property developer to build 847 homes in Liverpool by 2020
A property developer has announced it is building 847 new homes in Liverpool by 2020.
Investar Property Group, the Manchester-based property development company, is delivering a pipeline of new homes in the city by 2020.
Spanning five developments under construction and completed, Investar’s total investment in the city is £95m.
The company launched its latest scheme, Fabric Village, a joint venture with a Liverpool-based developer YPG Developments, earlier in 2018.
The £53m project is a 449-unit residential development on Gildart Street.
Located in the centre of the new Knowledge Quarter, the scheme is situated by the city’s universities and Lime Street train station.
Featuring an onsite gym and rooftop gardens, Fabric Village embraces contemporary city-centre living.
Construction is being carried out in three phases by YPG Developments and is expected to complete in the first quarter 2020.
Prices start from £98,500, with a guaranteed rental yield of seven per cent for three years for buy-to-let investors. Over half of the development has already sold to institutional investors in Hong Kong.
Currently under construction, Kings Dock Mill, a £25m co-development with YPG Developments that comprises 204 new homes on Hurst Street.
Adjacent to Albert Dock, the scheme offers a mixture of one, two and three bedroom apartments and townhouses, in the Baltic Triangle area. Prices begin at £119,000 with a 25 per cent deposit required.
Investar’s £5m Fontenoy Development offers 46 residential apartments across 14 floors, close to the University of Liverpool campus.
All apartments are currently tenanted, with investors benefitting from a 117-year lease and assured net rental returns for the first two years.
Tobacco Wharf is Investar’s first waterside scheme, situated just six minutes from Liverpool city centre.
The £8m project is a mixture of 67 one and two bedroom apartments, offering a guaranteed rental yield of 7% in the first year, with prices starting at £84,995 at average £150/sqf.
Halifax House, located on Fenwick Street, saw Investar restore the former headquarters of the Union Bank of the British Empire to its former glory.
The £4m development comprises 22 luxury apartments and was named as the Property Development of the Year at the Property Investors Awards 2017.
Michael Dong, chief executive officer of Investar Property Group said: “It’s great to bring a variety of different homes to Liverpool’s extremely buoyant property market, and help meet the huge demand for new homes in the area.
“Following the success of our first development, Halifax House, we saw the need for high quality, modern homes which put people at the heart of thriving cities, such as Liverpool.
“This is a primary reason we’ve invested heavily in the burgeoning Liverpool market and we look forward to bringing all of our schemes to fruition for local residents and investors alike.”
