Legacie acquires Liverpool apartment block from Grainger
The developer plans to spend £5m upgrading Spectrum on Duke Street, which it has bought for an undisclosed sum.
Legacie will rename the 32-apartment building The Mercantile, a nod to the trading history of the Duke Street Conservation area.
The developer is planning to upgrade all of the homes and the building’s communal areas in a 12-month programme of works.
The building last traded in 2014 when Grainger acquired it for £2.7m in 2014.
International sales agent RWinvest has partnered with Legacie to promote the scheme, while Legacie Contracts will handle the construction element. JLL advised on the deal.
John Morley, chief executive of Legacie, said: “We are committed to refurbishing the building to the highest standards, including the full redesign of the central atrium to offer modern, comfortable and luxury living space.
“I am pleased Legacie has once more stepped forward to deliver on a site which has real potential while providing a further economic boost in the area.”
Morley added that the deal serves to underline Legacie’s commitment to Liverpool city centre.
Legacie’s other Liverpool projects include the redevelopment of Heaps Mill and the 664-apartment Gateway on Leeds Street.
Once again Legacie steps up to the plate, this time to upgrade this building.
Duke St is now much improved although it was very disappointing recently to see the proposed Iliad hotel scheme , backing onto Wolstenholme Square, looks to be postponed indefinitely as the site is being prepared as a surface carpark .
By Anonymous