Liverpool property developer Legacie has secured a £93.5 million funding deal with Maslow Capital to bring forward The Gateway, a major new residential scheme in the heart of Liverpool.

The Gateway is one of the largest ever private investments into the city’s residential market and will see the construction of 656 homes on Leeds Street in the burgeoning Pumpfields district.

In addition to delivering much-needed housing, the development will bring in more than £1m per year in council tax receipts and feature extensive green spaces accessible to the public, commercial units on the ground floor, and a wide array of amenities for residents, including a ‘garden spa’ with a swimming pool, fully fitted gymnasium, residents’ lounge, cinema, podcast booths, and private dining areas.

John Morley, CEO of Legacie, says: “We are thrilled to continue our partnership with Maslow Capital to deliver The Gateway. This is the largest funding deal in the history of our partnership with RWinvest, and it marks a significant milestone for us.

“It not only reinforces Legacie’s commitment to providing high-quality residential spaces but also responds to the growing demand for well-located housing in the city. The project is set to transform a brownfield site into a dynamic urban community, with green spaces, modern amenities, and a sustainable design that aligns with Liverpool’s regeneration ambitions.”

James Henry, director of origination at Maslow Capital, adds: “Maslow Capital has a well-established track record of supporting high-quality living sector assets in the North West, and our £93.5 million financing to develop an additional 656 residential units is another significant contribution to the supply of housing in the region.

“We are delighted to be working with Legacie on this exciting scheme, continuing our long-standing funding partnership between our organisations. Having previously supported Legacie across multiple projects in the region, the Maslow Capital team looks forward to continuing this relationship and seeing this scheme come to life throughout the construction period.”

Michael Gledhill, director at international sales agent RWinvest, which has already sold 90% of the scheme, adds: “We’re excited to see this game-changing development take shape in Liverpool. The Gateway is not only one of the largest private investments into the city’s residential market, but it will also create hundreds of jobs during the construction process and in the long-term with residents contributing to the local economy.

“The regeneration of Pumpfields will bring long-term benefits to the area, from increased local services and amenities to the positive impact of council tax contributions from new residents. It would be great if Liverpool city council’s planning and regeneration departments continue to be supportive and efficient, helping to ensure that such an ambitious project runs smoothly and quickly. This is truly a transformational development for the city.”

Hill Dickinson advised Legacie in respect of the funding deal.

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