Peel in £65m residential tower deal for Liverpool Waters site

princesdockProperty giant Peel will this week confirm it has agreed a deal for the construction of a 40-storey residential tower at its £5.5bn Liverpool Waters scheme.

Yorkshire-based Moda Living is behind the project, the plans for which were first revealed in December, which will see the tower built close to the multi-storey car park at Princes Dock.

Peel will officially announce details of the scheme, reported to be worth around £65m, at an event at the Liverpool stand at the MIPIM property and investment expo in Cannes on Thursday.

The firm is staying tight-lipped on the announcement at the moment but the ECHO understands it will also unveil other projects for Liverpool Waters.

These could include more residential towers, offices or perhaps a leisure development such as an hotel.

Two Yorkshire firms – Caddick Group and Generate Land – are behind Moda Living and they hope to be able to complete the 325-apartment tower by 2017.

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When the scheme was first proposed last year, Johnny Caddick, director of Moda, said he believed cities across the North of England were ripe for a fresh surge of residential developments.

Peel has secured a 30-year planning consent on the 60-acre Liverpool Waters scheme which will comprise 18m sq ft of apartments, offices and leisure facilities such as hotels and restaurants.

The company has held talks across the world, particularly in China, in a bid to find investors for the project.

It has also seen a number of interested business people travel from China to see the site on the banks of the Mersey for themselves.

The firm made initial contact with potential investors when it was part of the Liverpool delegation to the Shanghai Expo in 2010 and since then has continued to cultivate relationships with Chinese business people and government officials.

This week Peel bosses have joined the Liverpool delegation to MIPIM on the French Riviera, the biggest event of its kind in the world.

It sees city delegations, property developers and financiers gather to discuss potential investment deals.

The Liverpool mission this year comprises 30 private sector companies – double the number who made the trip last year.

Although private-sector funded, the delegation is led by Liverpool Mayor Joe Anderson.