Developers raise £11 million for £45m Liverpool ‘eco’ scheme
Liverpool-based developers have secured an £11m funding coup for a major new eco-development.
Nexus Residential and Legacie Developments have secured the funding for Element – The Quarter, with Cheadle-based specialist lender Together providing a development facility.
The £45m apartment scheme on Low Hill, which sits just north of the city centre, boasts a range of sophisticated eco-friendly features and low-carbon technologies. These include solar panels, e-car charging points, air-source heat pumps, rainwater recycling system and a smart system to reduce electricity consumption within apartments.
The scheme is a joint venture between Nexus and Legacie.
Investment house RWinvest, which specialises in buy to let investments on prominent residential developments, has led the international sales drive on the project. In total, the development comprises 316 residential apartments plus purpose-built accommodation for 141 students and commercial units.
The Element’s first apartments are set to be brought forward in early 2023.
John Morley, chief executive of Legacie Developments, said:
“It is fantastic to be working with nexus residential again on another major development. The funding deal will help unlock further local jobs and training opportunities for young people.”
Michael Gledhill, managing director of Nexus Residential, said:
“Having a large institutional funder like Together backing another of our developments is a major vote of confidence. Works are progressing well on site, and we are excited to deliver 100s of quality new homes in Element next year.”
Chris Taylor, director of origination at Together, said: “This excellent scheme, once complete, will provide a luxury living and leisure space for postgraduates and professionals.”
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