Blacklight Capital Partners has reached practical completion on its luxury purpose-built student accommodation (PBSA) project known as Limelight in Liverpool.
The 535-bed property offers a range of room styles, including studios and penthouse suites, all with high-speed internet access.Â
Residents will have access to communal spaces such as a lounge, games room, cinema, karaoke area, and a Sky Lounge with panoramic views, along with a gym.
Located close to Liverpool’s major universities, Limelight opened for the 2024 academic year.
Blacklight acquired the partially constructed site from administrator Mazars due to the previous developer’s inability to complete the project.
After taking full ownership, Blacklight increased Limelight’s gross development value (GDV) to over £60m while retaining the original subcontractors for quality continuity.
Zerum, a project and cost management consultancy, was appointed to oversee the project.
J3 Advisory was brought on board to manage replacement latent defects insurance and after-sales service.
Jack Bristow, managing director at J3, said: “The J3 after-sales division is dedicated to proactive collaboration with project teams, ensuring the prompt submission of documents and insurer stakeholder approvals.
“This approach effectively minimises last minute challenges and eliminates costly delays.”
Tom Mees, director at Blacklight, said: “We’re immensely proud of the successful delivery of the Limelight project, and a special mention goes to the outstanding teams at Zerum and J3 Advisory.
“As a special situations investor/developer, we excel in navigating complex projects like Limelight and this is in part due to our strategic partnerships with specialists such as Zerum and J3 Advisory, ensuring a smooth journey to practical completion.”
Russell Wright-Turner, head of Zerum’s cost management division, added: “The practical completion of Limelight marks a significant milestone in addressing the needs of student accommodation in the city.”
