SCOTLAND
BIG CITIES FARING BETTER
Scotland’s dominant centres in Glasgow, Edinburgh and to a lesser extent, Aberdeen, continue to benefit from good levels of demand and relatively low levels of vacancy.
ROSS WILKIE
Director, Retail Agency – Scotland
However, beyond these core markets there is an ongoing downward pressure on rents due to subdued demand for more secondary locations. This has been exacerbated by the latest CVAs from New Look, Carpetright, Debenhams, Paperchase, Mothercare and most recently, Arcadia and Monsoon.
GLASGOW Scotland’s leading retail centre, Glasgow has seen a number of leading brands opening or committing to new sites including Schuh, Victoria’s Secret, Jo Malone, Penhaligons, The Ivy, Belstaff and Fred Perry, to name a few.
At the southern end of the city, construction has commenced at Blackstone’s St. Enoch Centre with a new VUE Cinema and eight restaurants with openings scheduled for late Summer 2020. Operators under offer to date include Cosmo, Nandos and Smashburger.
EXECUTIVE SUMMARY
THE MARKET
RETAIL REIMAGINED
MONEY
IS THIS THE END OF THE GOLDEN AGE OF ONLINE RETAILING?
KNOWLEDGE
SHOPPING WITH A CONSCIENCE
FOOD
Also, at Redevco’s boutique Princes Square shopping centre, we have seen a UK debut for Kate Spade, complementing the recent arrivals of both Everyman Cinema and Eden Mill.
EDINBURGH The redevelopment of The St. James Quarter continues to dominate the retail landscape in Edinburgh. This impressive development will create 1.7m sq ft of retail, leisure, hotel and residential space and on completion in late 2020, is expected to elevate Edinburgh from its current ranking of the UK’s 13th best retail centre to 8th. Leasing is beginning to gather momentum in light of the Inditex brands committing to pre-lets, these include Zara (37,000 sq ft) with sister brands Bershka (9,300 sq ft), Stradivarius (6,000 sq ft) and Pull & Bear (8,000 sq ft) for what will be their only Scottish stores.
REGIONAL UPDATES
CONTACTS
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