Balfour Beatty to build out Neptune PRS scheme
Balfour Beatty has won a £32m contract with Neptune Investments to build 324 apartments for private rent in Liverpool's Baltic Triangle.
The three-tower residential development designed by Falconer Chester Hall will fill a long-stalled eyesore site close to the waterfront and Liverpool ONE.
Balfour Beatty is expected to take two years to build out the towers of 13, 10 and eight storeys. There will also be commercial space, a gym and concierge, and underground car parking for 358 cars. Planning permission was granted in July 2014.
Development funding has been provided by HSBC. The scheme will be managed on completion by Neptune subsidiary Parla Living. WYG is also advising Neptune on the project.
A previous proposal by Windsor Developments to develop the site collapsed in 2007 with debts of £46m after £15m had already been spent on construction.
This is the problem with PRS, the build cost has to be cheap so the architecture is bland and often ugly.
By John Southgate