In March 2000, after a series of technical workshops, Liverpool City Council selected the Duke of Westminster's Grosvenor Group as developer.
As a result of the technical workshops, it became apparent to Cushman & Wakefield that whilst the boundary of the PSDA was appropriate, the boundary needed to be extended and more clearly defined.
Liverpool ONE is the largest open air shopping centre in the United Kingdom and the 5th largest overall.
The project, previously known as The Paradise Project, involved the redevelopment of 42 acres (170,000 m²) of underutilised land in Liverpool city centre.
The majority of the development was opened in phases on and 1 October 2008, during Liverpool's year as European Capital of Culture, whilst the final residential units opened in early 2009.
The purpose of the study was to enable the Council to identify ways of protecting and improving the City Centre and also to find out why the City Centre was perceived as unattractive to new high quality retailers.
Cushman & Wakefield proposed that two Mixed Use Extension Areas be identified to the West and East of the PSDA, including the sites of Chavasse Park/ Canning Place, together with an area across Hanover Street extending into Rope Walks.
Cushman & Wakefield's study revealed that Liverpool's reputation as a regional shopping centre was under serious threat, however the study underlined that a feasible scheme and redevelopment site existed within the heart of the city.
Cushman & Wakefield recommended a radical City Centre re-development of over 42 acres (170,000 m which consisted of the area bound by Strand Street, the Combined Courts Centre, Lord Street, Church Street, Hanover Street and Liver Street.