Blacklight acquires third stalled Liverpool student scheme
The investor has bought YPG’s half-built development on Devon Street having already snapped up and completed projects started by Elliot Group and Mount Property Group.
Blacklight Capital Partners has bought the site of YPG’s 164-flat Devon Street development in Liverpool.
The developer has applied to Liverpool City Council for permission to finish the scheme and add 38 extra rooms. Broadgrove Planning & Development and Smith Young are advising Blacklight on the updated plans.
The acquisition of the Devon Street site marks a hat-trick of Liverpool deals for Blacklight.
In 2022, the investor purchased Natex, a 574-apartment student accommodation scheme off Norton Street previously being developed by Mount Property Group, and rebranded it as Limelight.
Blacklight was also heavily involved in the completion of Elliot group’s stalled 999-home Aura development by a group of the scheme’s original investors.
BCP’s latest foray into the Liverpool market marks another positive step forward in the city’s bid to whittle down its list of stalled schemes. The 10-storey Devon Street project won planning permission in 2016 but work stopped in 2021.
The development is located close to Fabric Village, another stalled YPG project, which was acquired by Mellior Group last year.
Mellior recently submitted plans to Liverpool Coty Council seeking permission to reduce the number of flats proposed by 12% from 419 to 367 and restart the project.
Any news on Infinity Towers stalled site ?
By Anonymous
Has to be a bit of good news, as mentioned on top of other nearby schemes due to resume, plus JT Morris’s new build, and the conversion of the former TJ Hughes underway. We all know it’s been said many times there’s potential here to get London Rd back performing but the lower end needs urgent attention.
By Anonymous
More stalled sites being revived, not many to go now.
Any news on Infinity yet, it has been very quiet for some time now?
By Liverpool4Progress
We don’t need students flats everywhere in our city ,why don’t they put single people in them or couples,not sure about children
By Moggy
@ Moggy, students need student flats and there’s still a market for them, there’s tons of room throughout Liverpool to build other flats for purchase or rent but you need to consider what is holding developers back , surely not the council who force them to build low-rise, and take years to agree planning permission.
By Anonymous