IPG acquires stalled Liverpool resi from troubled developer

Integritas Property Group has taken over a 200-apartment scheme after Sourced Developments completed the 56-home first phase in 2023.

IPG says it has now bought part of the proposed 612-home Bevington Bush scheme from Sourced, whose Kingsway Square development vehicle is in administration and whose Regent Plaza project in Salford has also stalled. Phase two of Regent Plaza is due for completion in April, according to Sourced.

IPG’s chief executive Mitch Walsh said Abrey Construction has been appointed to deliver the 200-home project, which comprises 60 studio apartments, 100 one-bedroom apartments, and 40 two-bedroom apartments.

Work is due to commence in Q3 2025 and complete in Q2 2027, he said.

“IPG prides itself on delivering high-quality, ethical developments that support local communities. Westminster Point is another example of our unwavering commitment to excellence, transparency, and collaboration with investors, landowners, and construction partners,” said Walsh, whose firm is also behind the Bastion Point scheme in Pumpfields.

“With high rental yields, a young and growing population, and a city that’s undergoing an incredible transformation, Westminster Point is an unmissable investment opportunity,” Walsh continued.

“Whether you’re a first-time buyer, an investor seeking strong returns, or a professional looking for premium city-centre living, Westminster Point is the perfect place to call home.”

Sourced bought the wider 612-apartment Westminster Park in 2022 from Greg Malouf’s Bevington Developments. Having delivered phase one, Sourced is anticipating a return to site to continue with phase two later this year following infrastructure work.