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40 . Glasgow Business March/April 2013


GROWTHCity investment


›› SCOTLAND’S DEPUTY FIRST MINISTER WELCOMES £70M RETAIL DEVELOPMENT IN THE HEART OF GLASGOW


S


cotland’s Deputy First Minister Nicola Sturgeon MSP was joined by Land Securities Chief Executive Robert Noel recently to celebrate the opening


of Scotland’s newest shopping development, 185-221 Buchanan Street, a £70 million investment which has created more than 200 new jobs in Glasgow. Te on-street development of nine prime


shops and 49 stylish apartments has atracted global retailers including Forever 21 and Vans to Scotland for the first time and has seen a blighted site at the top of Buchanan Street completely transformed by developer Land Securities. Ms Sturgeon hailed the development as a


welcome boost to Scotland’s retail sector, commenting: “Ongoing 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. Tis 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 £10bn over the spending review period.” American fast-fashion powerhouse Forever


21 has opened a three-floor store on Glasgow’s busiest shopping street, while authentic lifestyle clothing brand Fat Face has opened a flagship store. Popular American footwear brand Skechers, iconic sports company Vans, Paperchase, Watches of Switzerland, Office, Evans Cycles and Gap have all taken prime sites. Robert Noel said: “Our investment in this


Nicola Sturgeon, Deputy First Minister


“Ongoing investment in large-scale retail projects like this one here on Buchanan Street helps to ensure sustainable economic growth for Scotland”


Miss Scotland Nicola Treacy modelled a unique paper dress designed especially by Glasgow School of Art student, Ashleigh Miller, to mark the opening of 185-221 Buchanan Street


development reinforces both our commitment to, and confidence in, Glasgow as a prime retail and leisure location. Land Securities is commited to Glasgow for the long term and we have aspirations to invest a further £300m in the city over the next few years.” Te development, which was 100 per cent


pre-let, will also house Glasgow’s most exciting residential development, Buchanan Gardens – 49 apartments complete with their own sky garden, gym and residents’ lounge. Stuart Patrick, Chief Executive, Glasgow


The opening of 185-221 Buchanan Street attracted a huge crowd


Chamber of Commerce, said: “It’s marvellous that Glasgow can atract investment of this type and this is a real vote of confidence in the city centre and its future. With this opening, Land Securities has extended its role in its undoubted success at Buchanan Galleries to this long- neglected site at the north end of the street, and this development is a major boost to the area in amenity, appearance and jobs. “Land Securities, together with Ivanhoe


Cambridge at St Enoch at the other end of the street, is helping Glasgow retain its status of number one retail centre outside London. Te city centre has been a major economic driver, growing employment, and this new development supports that growth.”


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