Liverpool ONE helps city’s retail ranking climb from 17th to fifth
Liverpool has gone from the 17th to the fifth most popular UK shopping destination since the opening of the Liverpool ONE shopping centre in 2008.
In a study commissioned by scheme owner Grosvenor, consultancy firm Deloitte found that the centre has generated £4.1bn in economic activity since opening its doors.
Grosvenor – which is celebrating Liverpool ONE’s 15th birthday – said the project is emblematic of how regeneration can transform a city.
The study found that since opening, Liverpool ONE has welcomed 390 million visitors, played a key role in the 24% growth in economic value for the region’s visitor economy, and has supported an average of 4,700 jobs annually for Liverpool residents.
The 2.5m sq ft scheme was developed as part of a joint partnership between Grosvenor and Liverpool City Council, and is an early example of ‘levelling up’ areas outside of London.
Grosvenor said its management of Liverpool ONE has seen it become one of the UK’s leading retail and entertainment destinations, with average spend per head increasing by 89%, sales increasing by 195%, and the catchment area increasing by 77%.
The group added that the scheme has demonstrated its ability to attract brands to open their first stores outside of London, or to choose Liverpool ONE as the home of their flagships.
The scheme is the only destination outside of London to have a Zara, Bershka, Pull&Bear, and Stradivarius. It is also home to the largest JD Sports in the world and the £10m Gravity MAX, which brings the entertainment operator’s largest experience to Liverpool.
Rachel Dickie, executive director of investment at Grosvenor, said: “A willingness to invest for the long term and build effective partnerships are vital to the success of the UK’s towns and cities. This report shows the positives that can come from bold and creative regeneration. And, despite the increasing constraints on the public and private sectors, we need to learn the lessons from success stories like Liverpool ONE to drive future growth and meet the challenges faced by communities across the UK.”
Leader of Liverpool City Council, councillor Liam Robinson, added: “Liverpool ONE is a phenomenal asset for our city. Its design didn’t just reshape our city centre, it reimagined it. Its offer didn’t just reinvigorate our retail offer, it reinvented it. Its appeal didn’t just stay within the city, it reached out across the UK and beyond. “