Grosvenor, the Duke of Westminster’s property company, has signed an agreement with two residential specialists to lease more than 170 apartments at its Liverpool One development.

The Mayfair-based property company has signed agreements with serviced apartments provider BridgeStreet Worldwide and residential investor Plus Dane Group, who will lease five residential blocks at the £1bn retail-led development.

BridgeStreet, which provides serviced apartments to business and leisure travellers, is leasing 78 apartments.

Plus Dane Group, which was formed from the merger of Liverpool–based Plus Housing Group and Congleton–based Dane Housing Group in July this year, is leasing 95 apartments which will be occupied by key-workers.

The apartments, above the 1.4m sq ft of retail space of Liverpool One, are being marketed under the brand ‘Liverpool One Apartments.’

In a statement Grosvenor said the deal provided the benefits of low vacancy and strong management control, and would also ‘ensure a large variety of largely local residents.’

The apartments are due for completion by the end of September, and a second phase of 326 flats will be completed in Spring 2009.

Liverpool One, which is owned by the Grosvenor Liverpool Fund, will officially open on 1 October and includes a 14-screen Odeon cinema, 230,000 sq ft of restaurants, cafés and bars, two hotels, offices, a five acre park, and new public transport interchange as well as the apartments and shops.