Forrest resurgence continues with Princes Dock win

The contractor is close to being named on Peel and Regenda’s £21m Plaza 1821 at Liverpool Waters, with the scheme expected to be the first of three consented residential buildings at Princes Dock to start on site.

Peel Land & Property and Regenda Group were granted planning permission for the Hodder-designed block in August. The 15-storey building totals 105 one- and two-bedroom apartments, alongside ground floor retail and amenity space.

At around 85,000 sq ft, the apartment block will be built as Peel’s first PRS project, and then bought by Regenda and managed by its PRS subsidiary, Redwing Living.

On the neighbouring plots at Princes Dock, housing association Your Housing Group has consent for a 30-storey tower totalling 276 apartments, designed by Brock Carmichael. In 2016, Moda Living secured permission for a 34-storey PRS tower, made up of 304 flats designed by Falconer Chester Hall. Contractors have been rumoured for both projects but there have been no announcements of a start date.

Bolton-based Forrest’s fortunes have seen a dramatic turnaround over the course of the year.

After admitting a £26m accounting error in Q1 and making 30 staff redundant, chief executive Lee McCarren departed in March, and was replaced by Carillion heavyweight Mark Nicholson in September.

The company refinanced with help from a £2m loan from the Greater Manchester Combined Authority, and has gone on to secure a series of significant projects.

This month, Elliot Group appointed Forrest to build its £100m Aura development on Erskine Industrial Estate, Forrest’s largest project to date. Forrest is also delivering Elliot’s 34-storey PRS scheme The Residence at Salford’s Greengate.

In Manchester, Forrest is building Factory Estates and Salboy’s £28m CituNQ, and X1’s £31m Landmark scheme, its fourth project for X1.

All parties declined to comment.

CGI shows Prince’s Dock cluster on completion, with Plaza 1821 sitting between two high-rise PRS towers.