Apache Capital Partners and Moda Living announce that, through their Build to Rent ("BTR") Joint Venture, they have secured planning consent for their £82 million premium purpose-built rental development, ‘The Lexington, Liverpool’, the JV’s first major project in the city. Named after the building’s New York-inspired design, The Lexington forms part of the Peel Group’s £5.5 billion Liverpool Waters regeneration masterplan and overlooks the docks that first kick-started Liverpool’s growth. The scheme will be delivered by Moda Living, a developer and operator of private rented housing, and will be fully funded by Apache Capital, the London and Gulf based private real estate investment management firm.
The 34-storey tower, designed by Falconer Chester Hall architects, will be the tallest residential landmark in the city’s Liverpool Waters area. Alongside 304 high-specification apartments (ranging from studios to one, two and three-beds), there will be 15,000 sq. ft. of dedicated amenity space. With a 17th floor residents’ lounge, gym, roof terrace, garden, fitness studio, an indoor/outdoor cinema and 24-hour managed concierge, The Lexington will raise the bar in Liverpool’s rental market. Unlike other developers, Moda Living and its funding partner Apache Capital will retain ownership of the property and operate it through their JV to ensure the creation of a genuine long-term community and investment platform. The building is the biggest single investment into Liverpool’s property market this year, underlining Mayor Joe Anderson’s commitment to supporting investment and housing.