Liverpool One to be opened by Princess Anne - property development finance

01 October 2008

The second phase of the Liverpool One project in the centre of the city will be officially opened by Princess Anne today.

Around £1 billion of property development finance has been spent on the scheme, which features shops, bars, restaurants, a 14-screen cinema and a five-acre park.

Street performers and a fashion show will herald the grand opening of the now-finished development, with a fireworks display planned for the finale.

Chief executive of Liverpool One Joanne Jennings told the BBC: "It's wonderful to finally be able to give people full access to the areas that have been under construction for so long."

She added that the project had been a "phenomenal" success so far.

Liverpool has been celebrating its status as European Capital of Culture since the start of the year.

In September, French theatre company La Machine put on a unique three-day public performance in which a 15-metre mechanical spider walked the streets of the city.