The planned tower rises to 34 storeys and will be located within the Princes Dock development plan, which forms part of Peel Group’s huge £5.5bn Liverpool Waters project.

Apache Capital is fully funding the 300 rented flats scheme, with communal facilities including a 17th floor residents’ lounge, gym, a roof, terrace, a garden and a cinema.

Tony Brooks, joint managing director at Moda Living, said: “We have worked in collaboration with Peel on their masterplan for this unique part of the city and are very excited about our first Moda Living development in Liverpool.”

This is the second project to be delivered through the Apache Capital and Moda Living JV partnership.

Carillion will start work on the joint venture’s first scheme known as Angel Gardens in Manchester later this month. This 34 storey tower will contain 466 flats in a £128m development on the NOMA site.

The partnership has to date secured a PRS development pipeline of around 5,000 flats located in prime city centre sites across the UK’s major regional cities with an end gross development value of £1bn.

The latest planned building will play a prominent part in the Liverpool Waters masterplan, which will see the regeneration of 60 hectares of historic dockland into a mixed-use waterfront development quarter.

Lindsey Ashworth, development director for the Peel Group, said: “Our vision for developing this important waterfront and creating unique neighbourhoods in this historical part of the city will make it an incredibly vibrant and exciting place to live and provide quality accommodation for a growing city.”