The Liverpool-based developer has acquired a site on Brassey Street in the city’s creative district, where it plans to bring forward a £25m residential scheme.
Caro Developments, headed up by directors Neil Carlyle and Steve Smith, purchased the 1.7-acre site in the Baltic Triangle for £1.5m out of receivership.
The site has prior consent for 174 apartments , granted to developer Eloquent Global in 2018. Caro now plans to draw up revised proposals and submit a fresh planning application to Liverpool City Council.
Architect Studio RBA designed Eloquent’s scheme.
Caro is working with planning consultant Zerum on the project but no architect has been appointed as yet.
Subject to planning approval, the developer anticipates a start on site early next year.
Smith, Caro’s development director, said: “There’s a great vibe in the area, with Baltic Market and Elevator Studios around the corner. We want to deliver something in line with the artistic and creative feel of the neighbourhood.”
He added: “We’re drawing together the professional team to help us and the first job is to get a handle on the council’s masterplan for the area. Whatever we deliver has to help take the Baltic Triangle forward.”
Elsewhere in the city, Caro is delivering its 127-apartment Poet’s Place residential development on Great Homer Street. Completion of the scheme, being built by the main contractor Newry Construction, is expected in May 2021.