Glasgow Business . 43 www.glasgowchamberofcommerce.com TO FUTURE


centre, but the extent of the figures remains an eye-opener.” Among other things, the


Moffat study is designed to help inform the City Centre Strategy, a five-year plan supported by the Chamber, aimed at making sure Glasgow remains one of the top city centres and urban tourism destinations in Europe.


Costs rise Professor John Lennon,


Director of the Moffat Centre, said: "[Tis is] the most recent and detailed look at the retail sector, covering the city's seven-day operation. Te sheer scale of the jobs and revenue contribution of retail will come as a surprise to many. It's well known that Glasgow is a leading retail


”It is well known that Glasgow is a leading retail centre, but the extent of the figures is an eye-opener”


Later in June, a report from real estate firm Colliers International showed that success comes at a cost. Over the previous year, the price of retail space in Glasgow city centre jumped by 8 per cent, as major international chains vied to secure prime locations. Te Midsummer Retail Report


looked at 27 centres across Scotland and Ross Wilkie, Director, retail with Colliers International in Scotland, said: “Glasgow is by far the strongest shopping destination in Scotland and supply is struggling to keep


The Brexit effect


The full implications of the decision by the UK to leave the EU have still to become clear believes Anne Ledgerwood. “We are only a few weeks on from the decision and nothing has been settled as yet,” she said. Ross Wilkie said there will be some impact, but nobody is sure what it will be. “Will Brexit have a dramatic impact on occupier decisions? Not in the short term, but medium to long term it may well do. It depends on the Scottish situation, too – will the country choose independence and try to stay in the EU? It's a thorny question. “At the moment, I don't think


we are going to see a dramatic impact. Some of the bigger international retailers might go cold on the UK as a whole, but it's hard to say. However, UK retailers could take a different tack. I've spoken to a few who have said it is business as usual. The message is that Glasgow is still thriving as a retail destination – it still has that number two UK ranking and needs to continually evolve to maintain that status.”


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