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Lexis+ AI

Freeths advises Nexus Residential on funding for £35m development

Freeths advises Nexus Residential on funding for £35m development


Freeths secured funding for Nexus Residential’s £35m apartment project in Liverpool’s Baltic Triangle

National law firm Freeths has successfully advised Nexus Residential (Nexus) on securing essential funding for a significant £35 million development in Liverpool’s vibrant Baltic Triangle. The project will see the creation of 174 apartments, contributing to the ongoing transformation and revitalisation of this dynamic area.

Nexus, known for its innovative residential projects in Liverpool, has already delivered over 800 properties in the past five years. This new venture follows their acquisition of the site from Caro Developments last year. The development is backed by a £20 million loan from Maslow Capital, ensuring the build can progress smoothly towards its anticipated completion in late 2025.

The Central Park development will feature a variety of apartment types, ranging from one- to three-bedroom units, and will boast amenities such as a luxury reception and concierge service, alongside a private roof terrace. Nexus has also committed substantial section 106 contributions to Liverpool City Council, totaling around £500,000, which will support local park enhancements, off-site tree planting, city center improvements, and public art installations.

The legal team from Freeths, led by Real Estate Partner Stephen Lewis and Director Mark Alexander, with key contributions from experts in banking and construction, played a crucial role in securing the funding. Mark Alexander expressed enthusiasm about the project, highlighting its alignment with Liverpool’s cultural heritage and the firm's regional strength.

Michael Gledhill, Managing Director of Nexus Residential, emphasised the positive impact of the development on the local community and expressed gratitude towards Maslow Capital and Freeths for their support and dedication.

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