Developer secures £20m in funding for city centre project
Legacie Developments has announced a £20m finance deal with UK development lender Maslow Capital for the flagship Parliament Square residential and retail scheme in Liverpool’s Baltic Triangle.
Work on the development, which has an overall value of £90m and will see the construction of 500 contemporary state-of-the-art apartments across four blocks, began last October.
The transformative scheme will include a public plaza with restaurants, boutique shops and a gym available to residents.
Legacie, which has delivered a number of residential development schemes in the city including Renshaw Street’s Ropemaker Place and Water Street’s Reliance House, say the funding from Maslow Capital underlines confidence in the company as an emerging developer.
Founder John Morley said: “The significant financing we have secured from Maslow Capital is a massive vote of confidence in our work and a major boost for the prestigious Parliament Square development.
“This is exciting news for Legacie Developments and underlines our position as an emerging powerhouse in the construction and development industry.
“The confidence shown in us from Maslow allows us to take a further step forwards delivering a world-class development that enhances Liverpool’s position on the residential map.
“It is a huge moment as it allows us to grow even further. It is great to be working with Maslow Capital and also Alex McCann at Hill Dickinson who helped facilitate the deal.”
Maslow Capital co-founder and deal originator, Chris Blowers, said: “Legacie Developments have a track record of delivering high specification, quality residential developments.
“This, coupled with Liverpool’s economic growth and appeal as a destination to live and work in recent years, made the funding of this development extremely attractive.
“We are looking forward to a strong working relationship with Legacie on the delivery of this project.”
Legacie Developments says the Parliament Square site will transform the area around Liverpool’s Parliament Street and improve the gateway into the Baltic area and wider city centre.
Work on the development is expected to be complete by Summer 2021.