Henderson Global Investors and Land Securities have submitted preliminary proposals to Glasgow City Council for a major expansion to Glasgow's Buchanan Galleries shopping centre that could see it transformed into a million-sq ft retail destination.
The mall, located in Buchanan Street, already accounts for almost one fifth of the total retail space available within the city centre with around 600,000 sq ft of retail space anchored by John Lewis, H & M, Next and Gap.
Under the new plans the developers want to introduce around 400,000 sq ft of additional retail and restaurant floorspace, a new multi-storey car park and new residential apartments.
The development framework to be agreed with Glasgow City Council will establish the design, transport and environmental considerations for the scheme and an outline planning application is expected to be lodged with the council in spring 2007.
Nick Davis, development manager at Land Securities, said: "Until recently, Glasgow was second only to London in the UK's retail rankings. However, recent large-scale developments in other cities, notably Birmingham, have seen it slip in position. Buchanan Galleries already trades successfully, but we need to improve our retail offer in order to ensure that the city centre maintains its attraction.
"The proposed extension will increase Buchanan Galleries to over 1million sq ft which will provide the necessary critical mass to allow the introduction of larger, more modern retail floorplates that will attract new retailers to Glasgow. Our proposals will result in an exciting and dynamic new shopping environment, attracting more visitors and bringing more wealth to the city." If approved, the extended centre could be completed by Christmas 2010.
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