The transformation of one of Liverpool’s most prominent dockland development sites was brought to a standstill several years ago. Now, Neptune Investments has taken over the site and set the wheels in motion on a new innovative £50 million private rental sector scheme for the area known as Baltic Village, aiming not only to boost the Baltic Triangle’s residential offering but to also change the whole approach to how property is let.

With construction now underway, Your Move caught up with chairman, Peter Hynd to find out more about the project.

 

What will the Baltic Village scheme entail?

There was an unfinished scheme many years ago we inherited the site with the infrastructure in the ground. We were initially working with planners to come up with a scheme that can cope with both the inherited infrastructure and also with it being one of the very dominant sites overlooking a world heritage site.

We’ve come up with a private rented sector (PRS) scheme of 324 apartments that will be let on the American model, whereby you enjoy all the benefits of living in a hotel with a proper concierge and you’re treated like a customer. It’s also got 358 car parking spaces.

 

How have the previous stalled scheme and the infrastructure that it left in place impacted on your project?

We’re having to make some substantial alterations to it, such as the position of the lift shafts, and we’re having to enhance the structure to take our scheme. It’s been quite a challenge from a construction point of view but we’re there now. We’ve partnered with Balfour Beatty, and they’re using a local design team who are coming up with solutions for them.

 

Given that a previous project failed, the site has been primed for development for a number of years. What will it mean for that area to finally have a scheme in place?

To me it’s a real shot in the arm for Baltic and, if anything, it will act as a launching platform to set Baltic off into creating more homes. We’ve called it Baltic Village because we’re trying to create a sense of community, which Baltic already offers to some degree, but this is going to help really enhance that portrayal of Baltic as an area that people really want to live in.

Why did you opt for a solely PRS scheme rather than making some properties available to purchase?

There was a lot of debate from the coalition government about how they can enhance ‘generation rent’, as people can’t afford to buy their own homes, or they’re young professionals living in cities to suit their job but they might only be there for three or four years.

We went to America to see how they do it and we’ve enjoyed putting it together. A practice guide was brought out by the Urban Land Institute and we’ve done it, completely audited and everything, along the lines of what they’ve said. They’re similar to America in the sense of ‘let’s create a community and make people want to stay and enjoy being here because they’re treated as customers and not renters’. It’s a different approach altogether to the typical landlord/tenant relationship we’ve seen in this country for a long time that has not been good.

 

Baltic Village is a mixed use scheme. Will the leisure elements be exclusively for its residents?

From a public point of view we’ve spent an awful lot of money on the external area where people will enjoy sitting and they’ll have wifi externally. There’ll be planting and the use of materials is spot on as well.

Then internally [for residents] we’ve got the concierge which is run like a hotel concierge so, for example, if you need your supermarket order delivering and you don’t know what time they’ll be coming the concierge will take it in and there’ll be storage at the back so you don’t have to worry about things like that.

Then we’ve got a residents’ lounge where you can have a coffee and it’ll have a large screen so you can arrange residents’ meetings, and a large gym studio area which will all be part of the rental package.

We have a bespoke room that can be converted into a cinema or meeting room where residents can get together and they can book it out and ask friends in. It’s got a small kitchen area.

We’re trying to allow people to get to know their neighbours, which is very important, and create a sense of community, and that’s never been done in this country. There’s an awful lot of people going into it now and talking about it and it’s going to be interesting as to what the output will be but we’ve really embraced it on this scheme.

 

 

So are you expecting other schemes in the area to follow suit?

Absolutely, and there is talk about schemes. I certainly welcome proper investment – pension fund type investment institutions – being involved because that’s what this sector needs.

 

How will Baltic Village take shape moving forward?

It’s a tight programme because the whole scheme has to be finished for September 2016. The first phase of the handover is going to be one phase of show apartments in Block A, on The Strand.

At present the builders’ programme for them is March 2016 so we hope to have a show flat and a marketing suite ready for April 2016, but the website will be up and running way before that.

The whole of Block A and the ground floor of Block B, which is the concierge, goes over in June 2016 and the whole of Block B goes over in July 2016. Then Block C – the finishing block – is September 2016. There are three cranes up now and we’re just about on programme.

We’re trying to replicate the old warehousing look and respect the Baltic quarter and its history. On top of that, we’re also working alongside Simon Holt of the Baltic Fleet pub, where he’s planning some major improvements and alterations that we’re involved with.

To me, the big thing about this scheme is location, location, location. It’s minutes away from Liverpool ONE, and out of 324 apartments 140 of them have got a river front view.