Funding has been secured for a luxury 40-storey tower on Liverpool’s waterfront, delivering 325 apartments.

Moda Living, which has been named as the developer behind the tower at Princes Dock, has agreed a deal with Middle East private real estate investment firm Apache Capital Partners to deliver the luxury apartments.

Named Princes Reach, Moda Living says the tower will be the most exclusive address in the city and includes a rooftop sports court for football, tennis and outdoor yoga, a 24-hour concierge, cinema rooms, a hotel-style lobby and a roof terrace with sun decks and built in BBQ and dining furniture.

Johnny Caddick, director of Moda Living, says: “Traditional views on renting are changing and more people are looking towards PRS for long-term tenure. With this in mind Moda Living’s aspirations are to create lifestyle developments that focus on putting the tenants – our customers – at the heart of the concept.

Princess Reach is part of Peel Group’s proposed £5.5 billion Liverpool Waters plan, which will transform Liverpool’s northern docks with apartments, offices, leisure developments and shops. The Liverpool Waters scheme has received outline planning permission but an application for the tower has not been submitted.

Moda Living says it will be completed late in 2017, making it the first residential development in the Liverpool Waters scheme.

The new joint venture between Moda Living and Apache Capital Partners will deliver £1bn of PRS developments in the UK, including the Princess Reach and schemes in Manchester and Leeds.

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