Grosvenor has completed the land assembly for its Liverpool One retail-led redevelopment in a £40m deal.

It has bought 22/36 Church Street from LaSalle Investment Management.

The 66,056 sq ft (6,136.6 sq m) block, over basement and five upper floors, is let to Arcadia Group trading as Top Shop/Top Man, with part of the ground floor sub-let to HMV.

Paul Jones, director at Tushingham Moore who advised on the deal, said: ‘After working on the site assembly at Church Street for the past six years and on this particular deal for nearly four, this was the final piece in the site assembly jigsaw for Grosvenor.’

Grosvenor last week revealed it was facing a loss of up to £140m at the £1bn Merseyside regeneration scheme, Liverpool One.

Last September Grosvenor confirmed it was preparing a contingency fund of up to £90m to cover increases in development costs related to the delivery of the 42 acre (17 ha) scheme.