Record £25m sales month for Liverpool developer Elliot Group
Developer Elliot Group has achieved its best-ever sales month, with domestic and overseas investors snapping up 350 student units at just one of the firm’s Liverpool schemes.
The record tally, at the company’s Aura project next to the new Royal hospital, represents an investment of £25m.
Located on the site of the former Erskine St Industrial Estate, Aura will comprise 142 one- and two-bedroom apartments for rent, along with 1,007 student rooms.
The development was designed by the Liverpool studio of architects Falconer Chester Hall.
Elliot Lawless, director of Elliot Group, said: “It’s about quality and a track record of delivery, pure and simple.
“The UK’s economic fundamentals remain strong and both domestic and overseas investors view Liverpool as offering that ideal combination of a healthy rental yield and good capital growth.”
He added: “We have dozens of investors that have backed us numerous times because they see that we deliver on time, to budget and with the quality that we promised.”
The record sales came as Elliot Group completed work on two other sold-out schemes in the city.
The company’s 109-apartment development on Falkner Street, in Liverpool’s Georgian Canning Conservation Area, and the first two phases of its 445-unit Wolstenholme Square scheme, have topped out.
Both were delivered by contractor Newry Construction and are now being fitted out for tenant occupation.
Elliot Lawless continued: “Huge credit is due to our contractor and our professional team.
“I use the same team job-by-job and they work seamlessly together. Loyalty has been my key to delivery but it’s a missing ingredient elsewhere in the industry.”
He continued: “Our partner at Experience Invest does an amazing job attracting investors both from home and overseas and remain critical to our operation. They have opened a source of competitively-priced finance that is hard for more established providers to beat.”
WYG is the client agent on Elliot Group’s Aura scheme, while Clancy is appointed as structural engineer.