The Grosvenor Estate is facing a further setback on his £1bn Liverpool shopping centre development, due to open next month. Sunday Telegraph

The flagging retail market and oversupply of new shopping space across the country have conspired to restrict lettings in the 43-acre Liverpool One scheme. When it opens next month a quarter of its units will be closed and not let.

Just 60 of the 80 shops in the development, which has already seen multi-million pound writedowns, will be open for business when doors open.

Neil Barber, head of retail leasing at said: 'There is an awful lot of new space coming on to the market this year. We are finding that retailers are being more picky about the schemes they go into, while others are waiting until the last minute or until schemes open before they sign up.'