Liverpool ONE extends park ownership

The fund that owns Liverpool ONE has acquired the 32,784 sq ft ground floor of One Park West, containing two restaurants, a café, offices and gym, from a subsidiary of Grosvenor Developments.

The deal cement's Liverpool ONE's control of the gateway into the 40-acre retail-led development, which opened in 2008, through Chavasse Park off the waterfront.
Chavasse Park, which was awarded Green Flag status earlier this year, is the backdrop to Liverpool ONE's restaurant terrace.

The Grosvenor Liverpool Fund acquired One Park West from One Park West Limited, a Grosvenor Developments company, in an arm's length transaction.

Miles Dunnett, head of asset management, Grosvenor Liverpool Fund, said: "This acquisition is another strategic move for Liverpool ONE, integrating the day-to-day asset and property management of the leisure and offices to create an even more comprehensive and cohesive offer for visitors to Liverpool ONE.

"Chavasse Park is a key element of Liverpool ONE, having become established as the green heart of the city. Consequently, it plays a major role in enlivening Liverpool ONE. By owning the ground floor of One Park West, we can further enhance this space, complementing the thriving offer on The Terrace."

The news follows a successful 2013 for Liverpool ONE, during which footfall exceeded 26 million and sales were up by 4% compared to the previous year. Christmas trading was strong, with Liverpool ONE achieving its busiest day ever on 30 November, with footfall reaching 180,000, an increase of 4.5% compared to the same day in 2012.