Moorfield said its private rented sector development with Glenbrook Property in Liverpool marks the start of a PRS portfolio outside London with an initial target of 2,000 units.
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Speaking at the scheme’s launch event last night in the Royal Liver Building, down river from The Keel, Charles Ferguson Davie, chief investment officer of Moorfield, said the development was one of the first properly designed PRS projects in the country.
He added that as a property investor Moorfield had often been an early backer of new asset classes, citing student accommodation and retirement villages, and PRS was another example.
The Keel will transform the former tax office at Queens Dock into 240 apartments due to be ready for occupation in September. Pochin is the main contractor.
Built in 1993, the former HMRC base once held over 1,500 employees, and was one of the first new-build offices in the city, helping to start the renaissance of the waterfront.
The Keel is owned and managed by a single entity, rather than by many different private landlords. Tenants will benefit from professional on-site property management and 24-hour customer service. A choice of one, two or three bed apartments and studios will be available, either furnished or unfurnished. Surrounding a private central quay and overlooking the River Mersey, all apartments come with the promise of abundant natural light, “with striking waterside views from every façade”.
There will be an on-site residents’ only gym, concierge, 24-hour security, waterside terraces, on-site cycle and car parking, and high-speed broadband are all also available, as well as secure storage for tenants’ belongings.
Ferguson Davie added: “Liverpool’s waterfront has witnessed a significant revival over recent years and The Keel is the perfect new addition to the regeneration of the area, creating a landmark asset for the City Centre and part of a larger strategic move into the purpose-built private rental sector for funds managed by Moorfield.”
Glenbrook is run by Ian Sherry, formerly of Liverpool-based UK Land & Property, and ex-Grosvenor projects director Guy Butler, who worked on the development of Liverpool ONE.
Sherry said: “The Keel is one of the city’s most spectacular new residential schemes and we are extremely excited about opening the doors to unveil what we and Moorfield have created here – it’s a far cry from the old interiors of the former tax office.
The Keel show apartment will be open Monday to Saturday and is located on the ground floor on the northern side of the development, accessed via Kings Parade.
Studios start from £500/month; one bedroom properties start from £565; two bedroom units start from £775; three bedroom units from £1,200.
The letting agents are Touchstone and City Residential.
Click image to launch gallery