Milestone reached in £70 million Glasgow retail development
Published by Simon Gwynn on Thu 01 Nov 12 @ 15:02
Land Securities £70 million retail and residential investment in Scotland's premier retail destination has reached a key milestone. The Deputy First Minister Nicola Sturgeon MSP joined developers Land Securities and construction giants Balfour Beatty to top out the development on Glasgow's iconic Buchanan Street.
Buchanan Quarter is only the second retail development since the recession, and the units are nearly fully pre let and on schedule for opening in March 2013.
The previously blighted site will be transferred into modern retail and residential space with nine new retail stores (including Forever 21, Paperchase, Gap, Fat Face and Skechers) and 49 apartments with an eagerly anticipated roof garden.
The development is progressing on time and on budget by construction giants Balfour Beatty.
Lester Hampson, Head of Retail Development for Land Securities said:
"As a major investor in Glasgow, we are delighted to have reached an important milestone in progressing our £70 million investment in the city centre, and we made the right decision selecting Balfour Beatty to build it.
"Our development has supported over 100 construction jobs, including five apprenticeships, eight new entrants to the job market and 15 work placements and, when open, will provide employment to a further 120 people.
''185-221 Buchanan Street has been extremely popular with retailers due to the configuration of the units and their proximity to other quality shops in what is the top retail destination outside London."
Deputy First Minister and Cabinet Secretary for Infrastructure, Investment and Cities Nicola Sturgeon said:
"Ongoing investment in infrastructure projects - like this one here in the heart of Glasgow - is absolutely fundamental if we are to ensure sustainable economic growth for Scotland.
"This government is committed to supporting the construction sector to ensure it continues to develop in the years ahead, providing much needed training and employment opportunities for our communities."