Legacie Developments Has Began Work on the £200m Apartment Scheme
After launching in August, work has begun on the site of our most anticipated development – The Gateway. The development is located in Liverpool’s Norther Quarter, which is fast becoming one of the most popular areas to live in the city centre.
The Gateway is the latest in a series of stunning apartment buildings brought to investors via the partnership between Legacie Developments and RWinvest.
John Morley, chief executive of Legacie, said:
“The site has lay vacant for far too long, and I am pleased that we have stepped forward with a scheme that will be a catalyst for further regeneration.”
RWinvest director Michael Gledhill added:
“The Gateway will be a stunning addition to Liverpool’s buoyant housing offer.
“With world-class facilities on-site, it will form a key part of the emerging Northern Quarter and help attract further investment as we continue to see huge demand for luxury living in the city.”
If you want to get into the property market with developments like The Gateway, check out our guide to buy-to-let beforehand.
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What Other Milestones Have RWinvest Hit in 2023?
In September, Liverpool’s first eco-property, Element the Quarter, was officially opened in the Knowledge Quarter district, brought to you through our partnership with Nexus Residential. You can find the Royal Liverpool Hospital, the University of Liverpool and Liverpool John Moores University campuses in this part of town. The area has enjoyed billions of pounds of regeneration in recent years as Liverpool seeks to close the economic gap between the North and London and promote innovation in the city.
Earlier in December, construction approached its maximum height on One Park Lane, part of Legacie’s ambitious Heaps Mill redevelopment. The project consists of four apartment blocks on a historic grade II-listed site in the city centre.
RWinvest’s list of completed projects in 2023 includes:
- One Baltic Square (Phase 1)
- ELEMENT – The Quarter
- Parliament Square (Block B)
- City Residence Apartments
Sefton Central Labour MP and shadow minister Bill Esterson was present to help Legacie break ground at The Gateway site.
“Building new homes and creating jobs and training opportunities are the foundations for a stronger, more prosperous economy.
“Legacie and RWinvest is a powerful partnership and working at pace to deliver quality accommodation not just in Liverpool but across the UK.”
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What Can We Expect From The Gateway?
The Gateway, comprised of four skyscrapers, will be an iconic addition to Liverpool’s skyline. The development’s innovative design includes 656 luxury apartments.
The state-of-the-art features cover a range of needs for future tenants, including wellness facilities and multimedia spaces. It will offer Manhattan-style, one-bed and two-bed properties.
Much like Element the Quarter, The Gateway will be built with energy efficiency in mind, using eco-technology like heat pumps and sustainable materials.
The Gateway aims to bring luxury New York-style living to Liverpool’s Northern Quarter and revitalise the Leeds Street area, which is expected to become a thriving buy-to-let hotspot with massive potential capital gains.
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What Does Liverpool City Centre Offer Buy-to-Let Investors?
World-famous Liverpool is known for The Beatles, football and an iconic waterfront. However, it also offers numerous benefits to buy-to-let investors, making it one of England’s most eye-catching property markets.
Firstly, it is possible to find cheap property for sale in Liverpool, especially compared to London. According to the HM Land Registry UK House Price Index, the average property price in Liverpool is £178,283.
In contrast, the UK average price is £292,049. Meanwhile, London property costs an average of £532,113.
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Home.co.uk puts the average Liverpool rent at £1,097 pcm, giving an average gross yield of 7.3%. To put that into perspective, the average rental yield for the rest of the UK is around 5.2%.
The North West is also expected to grow significantly in the next five years. Savills predicts 20.2% capital growth in the region by 2028, which could lead to a significant ROI if investors purchase while prices are low in 2024.