Planning go-ahead for 62-home city centre apartment block
Liverpool-based ethical property developer, Integritas Property Group (IPG) has been granted planning permission to develop 62 homes in a new apartment block in the city’s Pumpfields district, off Naylor Street.
Three warehouse buildings on site will be demolished to make way for the residential building, Vaux at Naylor Street, which will compromise apartments available for private sale or rent with prices ranging from £168,000 to £309,750.
The anticipated rental yields are at 7.5% for long term lettings investors, and upwards of 10% p/a for short term lettings investors.
Mitch Walsh, CEO at IPG, said: “We’re extremely happy to bring this amazing new development to the market.
“We are very proud to have sold out all our other developments in the surrounding area, with the planning for this project taking us a huge step forward in our 1,000-unit milestone by the end of 2024.”
He added: “As CEO, it’s an extremely proud moment and a huge achievement for the Integritas Property Group. As a result, we are excited to bring further jobs and opportunities to the area, building much needed high quality homes in Liverpool.
“As the community rallies behind these developments, we hope to see Liverpool’s vibrant flare enrich the lives of the tenants we build for.”
SNOW Architects, which is working with IPG, has planned the new development to consist of 31 one-bedroom apartments, 28 two-bedroom apartments, and three three bedroom apartments, ranging from 500 sq ft to 1,000 sq ft, with all residents having access to a roof terrace.
At the highest point, the development will be 12 storeys tall. There will be 27 parking spaces, three electric vehicle charging bays and 84 cycle stands.
Also available in the complex are two commercial units totalling 3,800 sq ft – with the developers reserving them for use as shops, offices, or a restaurant.
BCA Landscape is the landscape architect for the scheme, while Croft Transport Solutions is advising on travel.