The Liberty 2 opened with a mix of retail and leisure tenants, although these were spatially separated with the shops on the first two levels and the nightclub, cinema and bingo hall on the third floor. The name referred to existing Liberty Shopping Centre.
It was initially anchored by a Sainsbury's supermarket, but when this relocated to The Brewery elsewhere in the town centre, the former supermarket space in the mall was taken by Wilkinson.
In 2006 the Liberty 2 was expanded with the redevelopment of the adjacent former Dolphin Centre to form part of the retail site. The redevelopment included the development of a new anchor store, an Asda supermarket, which was also linked into the mall at level two. The redevelopment also saw a housing block above the supermarket site. As part of the revamp, the centre - which had previously still been heavily carrying the 'Liberty 2' branding - was rebranded under The Mall Fund's corporate identity.
The Mercury is separated from the adjacent The Liberty shopping centre at ground level by the Romford ring road, but is connected to it by an underground section of the shopping mall, accessed from the lower level, which leads up into The Liberty. Although the two centres are connected physically in this way, they are independently owned and are run separately from one another.
It comprises two levels of retail stores, and a third level which includes a bingo hall and, since late 2012, the independently-run Premiere Cinemas.