Peel steps in to deliver £55m Princes Dock tower
Peel L&P and Your Housing Group “are exploring opportunities to work together” to build the delayed 31-storey tower at Princes Dock, with the construction contract being retendered after ISG was previously tipped the deliver the scheme.
Your Housing Group gained planning consent in 2017 for a 31-storey tower at Princes Dock. Set to include 278 apartments, the scheme was initially being brought forward as Hive City Docks, and was due to be operated by Nuvu Living, YHG’s private rental arm.
At the time the planning application was lodged, the tower was said to have a GDV of around £55m. The architect is Brock Carmichael.
Work was expected to start in late 2018, and while archaeology and groundwork began last year, progress stalled, and the construction partner remained unconfirmed, with rumours that some elements of the project would require a redesign.
The YHG tower forms part of a trio of residential towers at Liverpool Waters. The first, Hodder-designed Plaza 1821, is being developed by Peel and Regenda, with contractor Vermont active on site. The largest tower is Moda’s 35-storey The Lexington, being built by BCEGI and due to complete next year. The architect is Falconer Chester Hall.
A statement from YHG said: “Your Housing Group and Peel L&P are exploring opportunities to work together to progress the project at Liverpool Waters.
“Your Housing Group remain committed to building new homes on the iconic water front and being part of the wider regeneration of the area. This will enable Peel L&P to maintain and build on the excellent momentum they already have at Liverpool Waters alongside the construction of Plaza 1821 for The Regenda Group and Moda’s The Lexington, which between them will provide over 400 homes.”
Darran Lawless, development director at Peel L&P: “This activity is in addition to all the other development Peel L&P has planned at Princes Dock including a new hotel, cruise liner terminal as well as new development opportunities available at Central Docks. The Isle of Man ferry terminal and new link road are well under way, unlocking the potential we have in the second of our five new neighbourhoods which alone has consent to unlock another 3,000 homes with a substantial new park, as well over one million sq ft of offices, along with new leisure and hotel opportunities.”
While Vermont is building Peel’s neighbouring PRS tower, the contractor for the YHG project is unconfirmed, although conversations are understood to be ongoing.
Contractor ISG was the frontrunner to deliver the tower, having reached late-stage negotiations. A retendering process was then held which saw Graham Construction and Vinci price up the project, however no agreement was reached.
Work on Plaza 1821 and The Lexington is well under way, with both schemes due to complete in 2020.