The first phase of Liverpool One, comprising 100,000sqm of retail space, has recently opened to the public in the city centre of Liverpool.

The project, being developed by Grosvenor at a cost of over £1bn, already has 90% of its 80 first phase shops let. The development is being anchored by Debenhams and John Lewis, with John Lewis claiming it is the largest store outside of London. The second phase of Liverpool One is due to open on 30 th September 2008 with a further 80 retail units.

When completed, Liverpool One will cover 42 acres of the city centre and have 1.65m sq ft of retail and leisure facilities, which will include a 14 screen cinema, two hotels, five acres of parkland and 3,000 car parking spaces. The project is also looking to create around 5,000 jobs.

When PIN asked what Liverpool One would mean for the city, Mark Preston, CEO of Grosvenor Britain & Ireland, said: “It 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. We are delivering a development that we believe will have a lasting contribution to the future of this historic city.”