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Prospect Capital and Wilcocks & Wilcocks, advised by Indigo Planning, have received the green light from Liverpool City Council for Ovatus 1, a £35 million, 27 storey residential tower planned for central Liverpool.

With a team of nationally-recognised consultants collaborating to advise on the project, the hodder+partners-designed, large-scale residential tower will cover1,935sqm (20,828sqft),with amenities and public space incorporated. Ovatus 1 is the first phase of a two-tower development on the site.

The development will regenerate the current site, and is planned to comprise of 168 residential units, including 14 3-bed apartments, 88 2-bed apartments, 22 1-bed apartments and 44 studio flats. There will also be 187 cycle storage spaces provided, as well as public realm improvements, including hard and soft landscaping.

The development sits within the buffer zone boundary of Liverpool’s World Heritage Site and is located less than half a mile away from the city’s famous Princes Dock, which backs onto the waterfront of the River Mersey.

Craig Blackwell said “We are very pleased with today’s planning news and that this great city is standing behind us and promoting us for this exciting new residential development.” Martin Wilcox added “We are delighted with today’s planning announcement and look forward to delivering this development in a key part of Liverpool’s business district.”

Nick Fillingham, Regional Director at Indigo Planning, said: “Ovatus 1 represents a major opportunity for Liverpool’s residential offering. The green light for this development will ensure high-quality residential stock can be provided to meet current high-demand.”

Work will commence on site as early as September this year.