Nexus bags £19.5m for Baltic Triangle apartments
Development finance supplied by Maslow Capital will allow the developer to complete the 296-apartment Liverpool scheme.
Nexus Residential acquired One Baltic Square on Grafton Street in 2021 when previous developer YPG went into administration.
The £19.5m finance package will allow construction firm Legacie Contracts to complete the first tranche of homes by the end of the year.
As well as apartments, all of which have been sold off-plan, the Liverpool scheme features a £1m Italian-style plaza.
“We are delighted to have agreed this development facility with Maslow Capital.
“One Baltic Square is our standout residential development in Liverpool and will bring much-needed high-quality homes to an increasingly popular part of the city,” said Michael Gledhill, managing director of Nexus Residential.
“It has been a pleasure to work with Maslow and their professional origination team in completing the funding of this project. We are looking forward to completing this development and welcoming our first residents later this year.”
Well on the way to completion this one and looking good in the Baltic Southside, though we need to see more schemes coming forward in the Baltic generally, especially on the Norton site which already has planning permission, other good things underway including the awaited Utility flagship store.
By Anonymous