The scheme, located on the site of the former TJ Hughes store in Liverpool City Centre, will see 258 low-carbon apartments and ground floor retail/commercial space constructed. Of the 258 apartments, 144 will have one bedroom, 99 will have two and 15 will be studios.
Milliners Yard has recently reached ‘topping out’ status, which signifies the final beam being placed atop the structure. Lead contractors Equans joined Home Group and Columbia Threadneedle Investments to mark the occasion, which marks significant progress on the £30m regeneration scheme due to complete next year.
Also known as ‘Hughes House’ due to its previous use, the building and each of its units will have a minimum Energy Performance Certificate rating of B. Milliners Yard is ideally located for those working at some of the largest key worker organisations in the city. The likes of the Royal University of Liverpool Hospital, as well as both Liverpool John Moores University and The University of Liverpool, are all within walking distance of the development.
The scheme is funded through a joint venture by housing association Home Group and Columbia Threadneedle Investments (formerly BMO Real Estate Partners). The venture resulted in the BMO UK Housing Fund, which aims to accelerate the delivery of affordable homes for rent for key workers.
Alyson Seddon, Construction Director at Equans, said: “It was great to have colleagues, partners and stakeholders come together at the scheme to celebrate this major milestone. The project is key to the ongoing regeneration of Liverpool City Centre, and Equans is proud to be a part of this.”
Kitson Keen, Director of Development at Home Group, said: “Flexible Rent is a scalable ‘build to rent’ product, which provides a high-quality mix of private and discounted rented homes for people on a variety of incomes.
“As well as local key workers, the fund will satisfy the needs of a range of other stakeholders – from local authorities through to investors and central Government.
“As a country, we aren’t going to be able to build the homes we need without innovative approaches. A larger, professionally managed Private Rented Sector will have a positive impact in driving up standards. The Milliners Yard development is the first in what we expect to be many more similar developments to emerge across the UK.”
Emma Gullifer, Co-Fund manager of the CT UK Residential Fund at Columbia Threadneedle, commented: “We are proud to be marking this major milestone in the construction of the Fund’s first development project. Milliners Yard will be a landmark scheme for the Fabric District in the heart of Liverpool, providing quality Build to Rent apartments to residents at locally attainable rents. The inclusion of Flexible Rent, providing a dynamic mix of market rent and discounted market rent units, creates a scheme that can continue to cater to the local renting community while contributing to the regeneration of the Fabric District area.”
Simon Parker, UK Land & Property Managing Director, commented: “Today is a milestone moment for the project and brings us a step closer to delivering exciting new homes right in the heart of the Fabric District’s thriving and creative community.”