Neptune Investments has funded £24m for the new Baltic Triangle residential development in Liverpool city centre in the UK.
Baltic Triangle will consist of three towers at 13, ten and eight-storeys high offering 324 apartments, as well as retail and leisure space totalling total 7,500ft².
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Balfour Beatty managing director for northern major projects Jon Adams said: "Balfour Beatty has extensive experience in delivering high-end residential schemes and of working in Liverpool, where we have recently delivered the Liverpool One and Aloft Hotel developments.
Construction will last for two years, while the main contractor Balfour Beatty Construction will build commercial space, a gym, concierge facilities and underground car parking for 358 cars.
Previous developer, Windsor, commenced work on the site in 2006, but the scheme failed the following year due to the burden of £46m debts.
Foundations for the Baltic Triangle are already in place; Balfour Beatty will strengthen the existing basement and plans to use pre-cast wall panels to reduce delivery time and costs.
"We have a 15-year relationship with Neptune Investments and we look forward to working with them to deliver this exciting new £32m development in the heart of the Liverpool docklands," Adams added.
Upon completion, Neptune Investments’ subsidiary Parla Living will manage the scheme.
Liverpool-based Falconer Chester Hall is the architect on the scheme.
