Property developer Legacie has secured a £93.5m funding deal with Maslow Capital to bring forward The Gateway, a residential development in the heart of Liverpool.
The funding package, provided by Maslow Capital, will enable Legacie to progress with the development.
The Gateway is one of the largest private investments into Liverpool’s residential market in the city’s history, and is expected to play a role in transforming the Pumpfields area into a thriving residential community.
The project, which will bring in over £1m per year in council tax receipts, will see the construction of 656 high-quality residential units.
In addition to delivering housing, the development will feature green spaces accessible to the public, commercial units on the ground floor, and a wide array of amenities for residents.
John Morley, CEO of Legacie, said: “We are thrilled to continue our partnership with Maslow Capital to deliver The Gateway.
“This is the largest funding deal in the history of our partnership with RWinvest, and it marks a significant milestone for us.
“It not only reinforces Legacie’s commitment to providing high-quality residential spaces but also responds to the growing demand for well-located housing in the city.
“The project is set to transform a brownfield site into a dynamic urban community, with green spaces, modern amenities, and a sustainable design that aligns with Liverpool’s regeneration ambitions.”
James Henry, director of origination at Maslow Capital, added: “Maslow Capital has a well-established track record of supporting high-quality living sector assets in the North West, and our £93.5m financing to develop an additional 656 residential units is another significant contribution to the supply of housing in the region.
“We are delighted to be working with Legacie Developments on this exciting scheme, continuing our long-standing funding partnership between our organisations.
“Having previously supported Legacie across multiple projects in the region, the Maslow Capital team looks forward to continuing this relationship and seeing this scheme come to life throughout the construction period.”
Michael Gledhill, director at RWinvest, added: “We’re excited to see this game-changing development take shape in Liverpool.
“The Gateway is not only one of the largest private investments into the city’s residential market, but it will also create hundreds of jobs during the construction process and in the long-term with residents contributing to the local economy.
“The regeneration of Pumpfields will bring long-term benefits to the area, from increased local services and amenities to the positive impact of council tax contributions from new residents.
“It would be great if Liverpool City Council’s planning and regeneration departments continue to be supportive and efficient, helping to ensure that such an ambitious project runs smoothly and quickly.”
