Phase one complete on Water Street resi

Legacie Developments has completed the first phase of work on its residential conversion of Reliance House on Liverpool’s Water Street.

The building, which is being delivered by Legacie with its sales partner Ascot, has sold out ahead of building work being finished, attracting £22m of investment. It will comprise 139 apartments, ranging from one-bedroom units to three.

Works from the ground floor up to the fourth have now been delivered, with the remainder due for completion next year.

A spokesman said that around 60% of the investors in the scheme have been UK-based, with Middle Eastern buyers figuring among the remainder.

Since launching in 2014, Ascot has established a reputation as a firm with a global funding network, and now acts as agents for a range of developers for the schemes including Reliance’s neighbour The Residence.

Marie Campbell of Legacie Developments, said: “The apartments are emblematic of our company’s true blueprint, which is all about the quality of a development. A lot of detailed planning has gone into the scheme to ensure that not only is it right for the market, but it’s fitting for Liverpool and its regeneration ambitions.

“The development has proven popular with investors, first time buyers and those seeking to secure the first step on the property ladder.”

Ascot Property Investments director Stuart Howard added: “We are delighted that the scheme is popular with overseas investors. Brand Liverpool is still so dominant on the world stage, and I think it’s important we sustain the current popularity with residential schemes like this if we are to deliver vital economic growth in the city over the next decade.”

Other Legacie projects in Liverpool include Rose Place in Everton, which secured planning last month, and Ropemaker Place on Renshaw Street, where Impel Construction started construction last November.