Interview: Promenade Estates chairman Peter Hynd on the importance of the Baltic Triangle

If you ask anyone about the Baltic Triangle area of Liverpool, they’ll tell you it’s the up-and-coming creative heart of the city - and rightfully so. It’s home to an abundance of unique independent businesses making a name for themselves in this thriving part of the North West.

Just recently, Liverpool-based property development company Promenade Estates announced that it is selling the Baltic Village PRS development, which comprises three large residential towers, space for businesses, a gym and an underground car park.

I spoke to Peter Hynd, the chairman of Promenade Estates, to get his take on the Baltic Village, the wider Triangle, and what they both mean for the Liverpool area.

How important do you feel the Baltic Village deal has been for the city?

It’s a great coup for Liverpool to demonstrate that it can attract this Grade an investment to the city. Though PRS (private-rented sector) developments are still a relatively new phenomenon, it’s critically important for Liverpool to show that it is at the forefront in changes to the property market and that it is ahead of the game.

This is one of the largest investment deals in PRS outside of London, so it’s good for Liverpool’s image to be ahead of other strong Northern cities like Manchester and Leeds.

What is it that sets the Baltic Village apart from other developments in the city centre?

When work began on constructing the Baltic Village in January of this year, it was the first purpose-built PRS development in Merseyside, so straight away it is shown to be different from previous developments in the city.

As well as this, one of the important things for successful PRS schemes is that they abide by the strict rules that surround institutional build-to-rent schemes, in order to attract the right funding. One key point is that to be successful, you need to deliver a higher quality home than a build-for-sale scheme, taking full account of Life Cycle costs within a low-maintenance design.

PRS developments need to have brilliant customer service and create a community and a lifestyle through the development, so that tenants are not just renting a flat but feel at home, so that they will enjoy living in the building and want to stay.

This notion of building a community is integral to the Baltic Village development. That’s why the development will have a residents’ lounge with a coffee shop, and on-site facilities such as meeting rooms and a gym, to allow people to really get to know their neighbours.

In addition, it’s in a brilliant location, close to Liverpool One and the apartments will have views overlooking the world heritage site, and the Albert Dock. All this is what sets the Baltic Village apart from other developments in Liverpool.

Pictured: How the residents’ lounge will look

Where do you see the Baltic Triangle heading in the coming years?

The Baltic Triangle is a really important area for Liverpool. Five years ago, it was just starting out and now it has exploded into one of the most talked-about areas of the city, including being named as one of the most fashionable places to live in the Sunday Times.

It’s the creative spirit in the Baltic which is so important to Liverpool. It really is the creative quarter of the city, and there are similarities to other creative quarters in cities all other the world. Design agencies sit side by side with commercial businesses, next to photography and recording studios, as well as innovative bars and restaurants in an exciting industrial setting.

It’s important to nurture that creativity and talent, and then who knows what can come out of such an exciting area.

Pictured: A CGI impression of the Baltic Village development

Does Promenade have any further plans for Liverpool or the North West?

We’re actively looking for new opportunities for Promenade Estates, PRS and otherwise, throughout the North West. Liverpool is a brilliant place to be, and the new developments taking place throughout the city demonstrate its potential.