£40m Liverpool city centre scheme progresses

A £40m Liverpool city centre scheme to build 258 apartments has taken a major step forward. Hughes House will be demolished to make way for the development after it was sold to The Bank of Montreal’s UK Housing Fund. Town Square Group completed the landmark sale – and the conclusion of the turnkey agreement between all parties – has been described as a “significant win” for the Fabric District and Liverpool City Council.The demolition of Hughes House due to begin in September 2021 will make way for a ten-storeys building and will contain 258 residential apartments.The apartments will provided market and discounted rents to the city centre, which will be offered on flexible leasing terms by its operator Home Group.The project, which will feature a selection of 15 modern studios, 144 one and 99 two-bedroom apartments, will also offer commercial space that will occupy the ground floor.London and Manchester based Town Square Group have collaborated with Home Group to bring the modern, high-specification apartments in the heart of the city centre to life.They will lead the project as a turnkey product to the Bank of Montreal.The land deal, headed by the founder of Town Square Group Anil Juneja, has been three years in the making. Town Square Group will be working with Home Group and the project team consisting of UK Land and Property and ENGIE Group’s division Equans to implement the project.