Member Article

Liverpool's Quarter project to resume with new developer

A new development team is stepping in to complete a stalled multi-million pound residential project near Liverpool city centre.

The Quarter, a five-phase development close to the waterfront, was first put forward in 2005 by Vermont and Ethel Austin properties.

However, work stopped in 2008 – after the first apartment building comprising 83 apartments was completed – when Vermont fell into administration.

Last year the site was put up for sale by administrators at BDO with a price of £6.6m.

Now Liverpool-based X1 Developments, in partnership with Salford-based property investment firm Knight Knox International, have taken on the project. The revised plan will be entirely residential, comprising of more than 500 apartments.

The development, now rebranded as X1 The Quarter, is close to Liverpool Marina, the Baltic Triangle and the Albert Dock.

Phase 1 of the development - The Gallery - is already built and 100% let.

Work has already begun on phase two – The Courtyard – which, when completed, will comprise 89 one, two, and three-bed apartments and townhouses, in addition to a gym, launderette and bike storage as well as 58 car parking spaces.

Phase three – The Studios – which will contain 155 studio apartments, is set for completion by September 2015; phase four – The Terrace – which will contain 86 apartments, has a completion date of September 2016; while phase five – The Tower – will comprise 101 apartments over 17 floors and is expected to be completed in 2017.

X1 and Knight Knox have already successfully delivered the X1 Arndale House and X1 Borden Court projects, both in London Road, Liverpool.

Head of marketing at Knight Knox Samantha Jones said: “Liverpool is an area in which we hold a particularly strong presence having recently launched Merebank Court, in addition to other developments including X1 Arndale House and X1 Borden Court.

“Throughout all of our developments in Liverpool we have never seen demand dwindle – in fact, it is constantly increasing.’’

Planning permission has already been approved for the five-phase complex.

Planning has already been approved by Liverpool City Council for the five-phase complex which stretches over both Stanhope Street and Plaza Boulevard.

X1 is also planning to turn the former Salford Town Hall and Magistrates Court building into luxury apartments. The Grade II-listed building in Bexley Square will be transformed into 122 luxury apartments.

This was posted in Bdaily's Members' News section by Simon Malia .