Grosvenor is understood to be close to agreeing a deal with Browns Bar & Brassiere to open in the former Zavvi unit on Paradise Street.
Grosvenor will split the large corner unit into two leisure units to form a trio of restaurants with the existing Jamie's Italian on Paradise Street.
The deal with Browns, a subsidiary of Mitchells & Butler, is expected to complete in the coming weeks and building work begin to change the space from retail to restuarant, installing kitchens and reconfiguring the frontage. Zavvi ceased trading from the unit in 2009.
Browns opened its first new venue in eight years in Manchester at the start of 2011 on York Street.
If a deal is agreed, Browns at Liverpool ONE is likely to open in the first half of 2013.
All parties declined to comment.
Leasing agents on Liverpool ONE are Cushman & Wakefield and Tushingham Moore.