Sourced offloads £110m Liverpool scheme
The developer has sold the site of a 507-apartment project off Love Lane to UAE-based Habita.
Habita, which is headed up by Ian Ringwood – who has previously worked as a consultant for Sourced – has rebranded the project as City Walk.
Apartments are being sold off-plan to investors from £186,000.
“City Walk by Habitia Group is a truly transformative development in a prime location,” Ringwood said.
“We are delighted to proceed with this breathtaking project, working closely with Network Rail to bring a dynamic, thriving residential and commercial community to Liverpool. We are currently assembling the design and construction team to bring this prestigious development to life.”
He added: “With major projects such as Liverpool Waters, the Knowledge Quarter, and the Ten Streets regeneration, Liverpool is undergoing an exciting transformation. Its world-class universities, rich cultural heritage, and thriving business sector make it a prime destination for investors seeking long-term value and strong rental yields. Habitia Group UAE, alongside our funding partners, is excited to deliver this landmark development and contribute to Liverpool’s evolving skyline.”
Sourced Developments secured planning approval for the project last year.
Designed by BDP, the scheme proposes the delivery of four residential blocks rising to 11 storeys on four acres of land between the Ten Streets regeneration area and Eldonian Village.
Three of the plots adjoin Love Lane and one is located further south on Pall Mall.
The scheme would feature 147 one-bedroom apartments, 330 with two bedrooms, and 30 with three beds.
Redundant railway arches and subterranean tunnels located on two of the plots would be repurposed into more than 10,000 sq ft of commercial space under the proposals. A 200-metre linear park also forms part of the joint venture’s vision for the site.
Sourced managing director Joanne Waller, said: “We have now completed the sale of the Love Lane site to Dubai-based Habita Group UAE, taken as part of a strategic decision to focus on our current pipeline of development projects, the next phases at Regent Plaza and Westminster Park, which we are immensely excited to move forward with.”
It should have a tower element on the town end considering the King Edward plans
By GetItBuilt!
Good news if it means that the development is now actually built!
By Anonymous
Great scheme by great architects… hope this happens and sets a new benchmark for architecture in the city centre ..
By Nico
Did anyone really have much confidence that Sourced would build this?
This outcome is a better option and this developer at least has a track record of activity.
By Anonymous
It’s a great development this, I’m so pleased It’s going to happen now.
By Anonymous
I can lay bets on this being fully built and lived in before Liverpool waters gets even close to building that many buildings! It will really turn that area into an extended part of the city centre, it looks really great! Can’t help but wonder if they could be a little boulder with heights at the King Edward Triangle end…..who know, perhaps they will, first designs always change.
By CRISTOFORO
We should not be celebrating more built to rent developments, they extract money from the local economy, in this case to the UAE, and trap people who’d rather buy into renting.
By Anonymous
what is happening with Beaconsfield Mansion on Beaconsfield Road? This was a Sourced scheme but just seems to have been a hole in the ground for the last 5 years. Seen a bit of activity past few weeks but it seems very stop start!
By Bob Dawson
Now if it was Manchester it would have 20 odd stories or more for the outskirts. We cut back and build low rise.
By David