Liverpool City Council is in the process of considering a plan for an £80 million high rise apartment block in the Princes Dock area.

A joint venture between Apache Capital Partners and Moda Living has seen the submission of plans for the 34 storey tower via the private rented sector (PRS).

The Princes Reach development will form part of the Peel Group’s massive £5.5 billion regeneration project of Liverpool Waters, with 304 apartments to be available for rent.

Apache Capital and Moda Living are now in their second development as a joint venture after it acquired the 466 unit Angel Gardens development site in Manchester in February this year for £128 million.

The partnership between the two organisations has a PRS development potential of around 5,000 units in a range of sites in city centres across the country.

Apache Capital Partners Managing Director, Richard Jackson, said that the building has been constructed in a way that provides a lasting legacy for the city of Liverpool and pays respect to its historic skyline.

He said that the plans will provide customers with a new aspirational lifestyle and residence that has never been seen before in the city, with the combination of top design standard, services and amenities.

Mr Jackson added that their investors are continuing to fully get behind the financial aspect of their secured premium PRS development pipeline throughout various major regional cities in the UK that the firm will own and operate in the long term future.

Meanwhile, Moda Living Joint Managing Director, Tony Brooks, said that they were keen to start a project in Liverpool because it is one of the UK’s most sociable, stylish and dynamic cities.

He added that the development will provide homes for rent which are much needed in the city and will create the best space for residents to relax and socialise.