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Land hails Buchanan Quarter success

LAND Securities has hailed the impact made by its £70 million Buchanan Quarter development on the Glasgow retail scene a year on from its official opening.

The commercial property company secured some Scottish retail coups when it launched the development, with Fashion brands Vans and Forever 21 choosing the location for their first stores north of the Border.

Fat Face, Skechers, ­Paperchase, Watches of Switzerland, Office, Evans Cycles and Gap have also taken prominent sites at the destination, which overlooks Land's Buchanan Galleries centre.

Now Land, which confirmed the development's 49 residential apartments had been let within six months of completion, has declared the offer at the formerly derelict site has cemented Glasgow's reputation as the UK's most sought after retail destination outside London.

Katherine Armstead, Land Securities' senior portfolio manager for Scotland and the north, said: "It's been a very positive first year. Retailers have seen strong footfall and sales figures throughout the last 12 months, which is extremely encouraging.

"The opening of such high-profile retailers has encouraged more activity at the top end of the city and Buchanan Galleries has also benefited from the increase in footfall."

Ms Armstead said Land was committed to investing £300m in Glasgow, with the investment focused on its expansion plans Buchanan Galleries with Henderson Global Investors.

Work on the project is due to begin later this year and complete at some stage in 2017. A spokesman said the project was on track.

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