Developer secures £20m funding to complete eco-apartment development

Liverpool property developer, Nexus Residential, has secured a significant £20m funding injection from Maslow Capital to deliver its new Baltic Triangle eco-apartment scheme.

The multimillion-pound facility will help complete the construction of Central Park – a 174-unit development on the edge of the city centre.

The funding deal is the third Nexus Residential has completed with the finance firm, with One Baltic Square – the adjacent development – recently completed and Merchant’s Wharf in Salford now nearing practical completion. This latest facility brings the total funding provided across all three projects to £60m.

The £35m Central Park scheme, due to be completed in late 2025, includes a mixture of one-, two- and three-bedroom apartments with a five-star hotel-style reception and concierge, as well as a private roof terrace with spectacular views of Liverpool’s Anglican Cathedral.

The development will also include cycle storage, secure underground car parking and a gymnasium for residents, while £1m has been invested into an adjoining public piazza with arches inspired by the iconic Royal Albert Dock, which will also include sculptures, floral arches, trees, benches, alcoves and artwork.

The development will also lead to the resurfacing and reopening of Brassey Street.

Central Park has been designed with sustainability at the forefront. The development is set to include state-of-the-art eco-friendly features such as solar panels, electric vehicle chargers, heat recovery systems, LED lighting and air source heat pumps, with Nexus set to deliver a centralised residential island.

Legacie is the main construction company which will deliver Central Park. Legacie has previously led on several eco-installations at sites such as Reliance House and Element – The Quarter in Liverpool.

The scheme is being promoted by the international sales agent, RWinvest, which has successfully pre-sold all the new homes off-plan.

Meanwhile, Nexus has also paid around £350,000 in Section 106 contributions to Liverpool City Council.

These funds will directly support planned enhancements to the adjacent park on Gore Street, to the benefit of the local community.

CGI of Central Park

Additionally, the contributions will cover off-site tree planting in the local area, improvements to the city centre, and a contribution to public art. Once the development is completed, the total Section 106 contributions to enhance the local area will be approximately £500,000.

Michael Gledhill, Managing Director of Nexus Residential, said: “We are really pleased to have agreed this funding facility with Maslow Capital, which helps continue our relationship and follows on from the successful delivery of our Liverpool and Manchester schemes.

“Central Park will help bring much needed, high quality homes to an increasingly popular part of the city. It has once again been a pleasure to work with Maslow and Sky Mapsom and Rachael Gordon from their origination team in completing the funding of this project.

“We are on-site and working at pace to help deliver another development the city can be proud of.”

Sky Mapson, Senior Director, Development Origination at Maslow Capital, said: “This transaction underscores our commitment to building long term relationships with innovative developers who make a significant positive impact on the supply of housing.

“We are pleased to partner with Nexus Residential once again, drawing on our extensive experience in the asset class, reliability, and comprehensive knowledge of Liverpool’s housing market to provide the funding needed to advance this project. This project marks a transformative moment for the city’s residential sector, and we are delighted to be a part of it.”

Rachael Gordon, Head of Deal Execution (UK and Europe) at Maslow Capital, said: “Finalising this complex transaction marks another milestone in our successful collaboration with Nexus Residential.

“This project stands out for its innovative approach to urban living, combining modern amenities with sustainable features that cater to the needs of today’s residents. We look forward to seeing its completion and the positive impact it will have on the local area.”

Law firm Freeths advised Nexus on securing the £20m funding.

The Freeths team was led by Real Estate Partner Stephen Lewis and Director Mark Alexander, with assistance from Ben Moylan, Louise Kelly and Pippa Clemett in Banking, along with Marie Mulligan and John Ridehalgh in Construction.

Mark Alexander said: “This is such an exciting project to work with our client on as it will really embody the culture of Liverpool with the design taking inspiration from the city’s historical Royal Albert Dock. As our Liverpool Team continues to grow, this deal really highlights the strength of our regional capabilities for developers.”