Deal clinched to revive stalled residential scheme in Liverpool
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Liverpool-based Legacie Developments has today (January 25) confirmed a plan to revive the stalled Parliament Residences residential scheme in the city’s Baltic Triangle.
The apartment development was placed into receivership in November last year.
Legacie will complete the job on the 145-apartment project and will be investing between £15m-£20m into the development, which will also include commercial office space.
Managing director, John Morley, said: “The site is currently in a dangerous condition from the damage that has been caused since the site stalled. It requires significant investment, and the support of Legacie’s expert team, to bring it to standard.
“Our vision is to create a quality residential development on this site so that Liverpool is not left with another stalled scheme or unfinished building site.”
He added: “Legacie has a track record of delivery in Liverpool and so we hope to revive this project to make it something the city can be proud of.”
Legacie Developments collected the ‘High Rise Development of the Year’ at the International Property Awards, December, for the company’s work on the forthcoming £90m Parliament Square development on the edge of Liverpool city centre.
Legacie Developments will shortly start work on the £40m Merchants Wharf residential development located at Salford Quays.
The company has successfully delivered a number of other residential projects including Ropemaker Place on Renshaw Street in Liverpool and the restoration of Reliance House on Water Street.