A proposed new 40-storey residential tower on Liverpool’s waterfront could become one of the city’s “most exclusive rental addresses” once it is complete, according to its developer.

Moda Living has agreed a deal with Peel Group to build a tower, named Princes Reach, featuring 325 apartments available for the private rental sector. The development would signal the beginning of Peel’s proposed £5.5 billion transformation of Liverpool’s northern docks.

Covering 60 acres of land at Princes Dock, the first designs of the residential tower have not been revealed but the developer is targeting a completion date of 2017 subject to planning consent. The scheme includes ‘sky lounges’ for residents, electric car chargers, fitness and yoga rooms, roof terrace with sun decks and a 24-hour concierge. It also features a stunning rooftop sports area where tennis, basketball and football can be played.

According to Moda Living: “Princes Reach represents the first residential piece in the Liverpool Waters masterplan, a project by Peel Group to regenerate 60 plus hectares of historic dockland to create a world class, high quality, mixed use waterfront quarter in central Liverpool. Tower One will be the most exclusive rental address in the city and boast the full complement of the Moda Model services and facilities.”

Moda Living is a joint venture between Wakefield-based Caddick Group and Harrogate’s Generate Land.

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