PIRES Capital on board for £104m Liverpool co-living
The developer will work alongside landowner Seth Real Estate to progress plans for a 500-unit scheme in the city’s Pumpfields district.
PIRES Capital, headed up by Peter Cranney and former Morgan Sindall director Andrew Bruce, has partnered up with Seth Real Estate to submit a planning application to Liverpool City Council for the £104m co-living scheme.
Earlier proposals for up to 650 apartments on the site have been swapped out in favour of co-living, which is more commercially viable, Cranney told Place North West.
The current iteration of the project proposes 500 co-living flats across a pair of eight-storey blocks on a two-acre site off Pumpfields Road in Vauxhall.
The Environment Partnership, Eden Planning, and NC Architecture are advising on the scheme.
A shift to co-living could be timely. Last year, Liverpool City Council published its draft local plan, which indicated a significant warming to the residential concept.
The city council plans to take a more nuanced approach to determining applications for co-living developments, having taken a dim view on the asset class previously.
Liverpool’s revised local plan sets out a specific policy for co-living, which gives hope for developers in this corner of the market.
The move to adopt a co-living policy marks a departure from the current local plan, which does not mention it at all.
PIRES’s site also falls within the Pumpfields regeneration zone, an area of focus for Liverpool City Council.
Architect Levitt Bernstein is leading a team made up of Montagu Evans, Arup, and Turner Works to draw up a supplementary planning document for Pumpfields.
The team has been commissioned by Liverpool City Council to draft the SPD that will pave the way for investment to create a residential-led mixed-use community featuring homes for up to 10,000 people.
PIRES’s Pumpfields project is the first of several the company plans to unveil over the coming months.
PIRES was formed late last year and is active across the region. It spun out of Sedulous, an investor developer backed by the Egyptian El Dammaty family, which owns DOMTY Food Organisation.
Keep it low key nothing too flashy
By Anonymous
Need to re-populate the city, it once had a population of 1 million but now the city itself is about 530,000. We need to be flexible how we do this but do it we must in order to maintain jobs, sustain our shopping areas, grow our transport networks, and generally boost our economy.
By Anonymous
Waste of prime space at that scale
By L17
Amazing to see those empty industrial plots turning into brand new habitable spaces.
By John
Will probably get planning due to the scale being lacklustre! The lack of ambition is ait depressing to be honest.
By Mike
@L17 @Mike The SPD limits the heights to 8 stories in this area.
By Anonymous
@Anon 1.32pm, so on the one hand the city council imposes a height limit of 8 storeys, quite why we are not sure. Then on the other hand the Council claim they want to bulk up the city population and facilitate developers, especially in this location.
Meanwhile no forward plans for a rail station I see.
By Anonymous