The Baltic House site in Liverpool, stalled under North Point Global, has been acquired by joint venture Crossfield Exclusive, the second former NPG site to emerge under new ownership this week after Elliot Group’s takeover of a site in Pall Mall.
Crossfield Exclusive Developments, a joint venture between Liverpool-based contractor and developer Crossfield Group and Exclusive Investments, has now purchased the site out of liquidation and is to apply for planning consent for a revised scheme, to be delivered by Crossfield Construction with a targeted completion date of 2020. The JV has not confirmed yet what the make-up of the revised scheme will be.
Landwood Group was appointed in September by LPA receivers to dispose of the Baltic House and Pall Mall sites. Baltic House comprises a part-built mixed use development which had a planning consent for 150 student units along with commercial units, communal area and service area. The site sits between Norfolk Street and Brick Street.
David Cain, director at Crossfield Group said: “The overwhelming majority of our team hails from Liverpool and we each understand the importance of undertaking development that not only strengthens the city’s ongoing regeneration but also safeguards its architectural legacy. That’s exactly what we will aim to deliver.
“If our revised plans are approved, there is huge employment potential for local people. We are likely to appoint up to ten new full-time positions to Crossfield directly, whilst our supply chain will see a further 300-400 workers on the site, all of whom would be local. This is integral to some of the positive outcomes we will expect from the construction of the scheme.”
Crossfield’s record includes projects in health, education and residential, with schemes worked on this year including Hunts Cross health centre and a health and training hub for Hugh Baird College. The group has three divisions: construction, a residential arm and a development business focused on joint ventures. Crossfield was formed in 2012 and expects to turn over £30m in 2019.
The Crossfield Exclusive JV is already working together on Mersey View Residence, a £3.1m apartment scheme in Birkenhead.
David Ayem, director at Exclusive Investments said: “This development, if properly executed, has enormous potential to transform the area around Norfolk Street and bring an attractive, sustainable addition to the wider Baltic Triangle.
“We recognise there may be negative connotations around the site’s past, but this is a new dawn for the project and its future is now in safe, local hands.”
Place North West reported this week that prolific Liverpool developer Elliot Group has taken on the NPG site at Pall Mall, intending to release a draft vision early next year.
A further NPG project, the New Chinatown site that dragged the developer into legal wrangles with Liverpool City Council, is now being progressed by Great George Street Developments, which submitted plans in October for a development including offices and hotel, along with a reduced number of apartments.