UK property group Grosvenor said on Tuesday that it has completed the first phase of its £1bn regeneration project for Liverpool city centre. This key milestone opens up nearly one million sq ft (93,000 m2) of retail space across 80 units and 2,500 parking spaces ahead of schedule, reconnecting the city's existing shopping area with its historic waterfront and new arena and convention centre.
UK property group Grosvenor said on Tuesday that it has completed the first phase of its £1bn regeneration project for Liverpool city centre. This key milestone opens up nearly one million sq ft (93,000 m2) of retail space across 80 units and 2,500 parking spaces ahead of schedule, reconnecting the city's existing shopping area with its historic waterfront and new arena and convention centre.
The company said that the grand opening of Liverpool One will take place on 30 September, including the balance of the 1.4 million sq ft of retail space, a 14-screen multiplex cinema, restaurant areas of 230,000 sq ft, cafes and bars, office space and a five-acre park. The delivery of the hotel and apartment sections is expected for the beginning of 2009.
Mark Preston, CEO of Grosvenor Britain & Ireland said: 'Today, we begin the process of giving back to Liverpool an important part of its city centre. Today also marks the start of making the city what it once was - one of the UK's top five retail destinations. Liverpool One is reputed to be the largest project of its kind in Europe which in its scale, design and impact is leading the way in urban regeneration. Today we begin delivery of a development that we believe will have a lasting contribution to the future of this historic city.'
Covering 42 acres at the heart of the city, Liverpool One provides 26 new and 10 refurbished buildings, individually designed by 26 firms of architects. Liverpool One's agents are Cushman & Wakefield, Strutt and Parker, and Tushingham Moore.
