Land Securities opens Buchanan Street development (UK)

Robert Noel, Chief Executive of Land Securities was joined today by Scotland’s Deputy First Minister Nicola Sturgeon to open Scotland’s newest shopping development on Buchanan Street, Glasgow.

The 115,000 ft² (approx. 10,684 m²) retail scheme opens fully let and has attracted national and international brands including the first stores in Scotland for Forever 21 and Vans as well as Paperchase, Evans Cycles, Fat Face, Skechers, Office, Watches of Switzerland and Gap.

The £61 million (approx. €71.6 million) development sits opposite Land Securities’ Buchanan Galleries and enhances the city’s most famous shopping street. The Buchanan Street development consists of 49 luxury apartments as well as nine shops and is positioned to exploit and expand the high levels of footfall in the area, currently estimated at 91 million shopper visits a year.

The opening of 185-221 Buchanan Street today follows the highly successful launch of the 1 million ft² (approx. 92,900 m²), Trinity Leeds shopping center yesterday, which has transformed the retail credentials of Leeds. The center opened 90% let, with a further 5% in solicitors’ hands and saw the opening of retailers including Apple, Mango, Superdry and Hollister, alongside a significant leisure offering which will include Everyman’s first cinema in the North of England.

Robert Noel, Chief Executive of Land Securities, said:

“The opening of 185-221 Buchanan Street in Scotland’s No.1 retail City is further evidence of the strength of our confidence in the Scottish market: We are delighted to have introduced new brands to Scotland and are confident that Buchanan Street will further enhance the City’s retail credentials”.

Scotland’s Deputy First Minister Nicola Sturgeon said:

“On going investment in large scale retail projects like this one here on Buchanan Street helps to ensure sustainable economic growth for Scotland.

“Not only do projects like these provide a welcome boost to the construction sector, they also provide much needed training and employment opportunities for young people in our communities.

“This government is using every lever at its disposal to invest in infrastructure and get our economy moving. We are on track to invest £3.1 billion in this year alone and support investment of more than £10 billion over the spending review period.”

Source: Land Securities

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