A stalled apartment scheme in Liverpool has been bought out of administration.
In 2017, YPG Group revealed plans to build several apartment blocks on Gildart Street in Islington's Fabric District. The scheme, called the Fabric Village, stalled in 2021 when two companies within the YPG Group – YPG Investar Islington House Ltd and YPG Fabric Residence Ltd – went into administration.
However, the site has been rescued from administration, according to a report. Liverpool-based developer Mellior Group states on its website that it is "acquiring the site out of administration" and Place North West reports that the firm has completed the acquisition.
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On its website, Mellior calls the development Islington Quarter and says that it will be split into two phases. It also states that the project's gross development value is £76m.
Over the two phases of construction, it will deliver 419 apartments across three blocks. According to the company, two of the blocks will form a C shape around a central courtyard, which will be constructed in the first phase.
The other block will be built in the second phase and will take an L shape. As well as the residential units, the project will contain two retail spaces.
The ECHO contacted Mellior Group for comment.
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