I was only young in the 80's but I remember this and the surrounding area well.
Does anyone have any photos or know of any? I can recall Computer Adventure World on the corner (which is now the 'Moodz' permanently unemployed social centre), which also had a huge advertisement space on the escalators in Liverpool Central Station (long after it shut down into the 2000's). There was an arcade place opposite the pram shop as well, now a solicitors.
Hammersound is still there, amazingly, but most of the businesses up there have now gone.