Liverpool-based Vermont Developments has become the latest developer to move into the re-emerging Islington district, on the northern fringe of the city centre.
Mark Connor, chief executive of Vermont, said the firm had acquired a cleared site with planning permission for 71 apartments and 10,000 sq ft of commercial space from an unnamed private vendor. The plot is opposite the historic Seymour Terrace. Work will start on site later this year.
Connor added: "Interest is definitely growing in Islington as development momentum carries out of the city centre."
Last year Islington Regeneration, a consortium of Downing Developments, Pencare Properties and private investor Gerard Murphy began masterplanning a mixed-use £300m redevelopment of a large area of Islington, around London Road.
The Royal Liverpool University Hospital and Liverpool School of Tropical Medicine are both expanding or rebuilding their estates in the area as well.