YPG has agreed an £18m finance package to support delivery of its Kings Dock Mill apartment complex on Tabley Street, Liverpool, which will provide 204 homes.
The developer has secured a deal with Bank of London and The Middle East to provide and £18m funding package to support YPG, which is also acting as main contractor on the project. A completion date of spring 2019 is expected.
Granted planning consent in 2016, the scheme will include the demolition of existing industrial buildings on the site and the construction of a mixed 10, 11, and 12-storey apartment building.
Designed by LAG Prichard Architects, there will also be 70 parking spaces accessed from Sparling Street and 100 cycle spaces.
The scheme forms part of YPG’s growing construction pipeline in the city with the developer also hoping to start work on its £50m Gildart Street apartments in July this year.
Ming Yeung, managing director of YPG Developments, said: “The riverside views combined with the proximity to the rich culture and leisure offering of the city centre, and the Baltic Triangle, make the site perfect for the kind of luxury apartments and townhouses we’re delivering here.”
Richard Payne, BLME head of real estate finance, added: “The forecast employment growth in Liverpool combined with the 7.8% increase in housing prices and increasing city centre population makes it an attractive area for development.”