The Vision for Buchanan Galleries Comes into VueThe redevelopment vision for the Buchanan Galleries shopping centre in Glasgow has moved a step closer to realisation with two major milestones.
Adding to the centre’s leisure offer, the Buchanan Partnership, a joint venture between Land Securities and Henderson Global Investors, has agreed terms with Vue Entertainment to take 35,000 sq ft in the centre. The new 10-screen Vue cinema will be located adjacent to 10 quality family restaurants, some with external terraces and spectacular views overlooking the Glasgow skyline.
Another major milestone is the release of outline planning consent from Glasgow City Council following an endorsement from the Scottish Government. This planning approval means that The Buchanan Partnership can continue to progress their proposals to extend the existing shopping centre by 700,000 sq ft; construct a new 2,250 capacity, multi-storey car park above Buchanan Bus Station and undertake substantial improvements to the Bus Station to create a new transport hub for the city.
The outline plans also include constructing a pedestrian bridge to connect the centre with the new car park, an atrium entrance to the centre and the Royal Concert Hall and increased retail activity on Buchanan Street, Cathedral Street and Killermont Street. Work on the scheme could begin as early as 2010.
Nick Davis, Development Director, Land Securities, commented:
“With the outline planning consent formally granted we are excited about the future for Buchanan Galleries and by the prospect of housing an extremely successful cinema within the shopping centre. Vue will truly enhance the new leisure offer at Buchanan Galleries by consolidating the centre’s position as the principal retail and leisure destination for families in Glasgow.”
Geoff Moore, Director of Development and Construction for Vue Cinemas, commented:
“Glasgow has one of the strongest cinema attendance figures in the UK and, with the Odeon closing a few years ago, Glasgow film-lovers were left with only one other operator in the city centre. The new cinema at Buchanan Galleries will provide Glaswegians with a brand new, state-of-the-art complex which will be a welcome addition to the already strong leisure offering within the city centre.”
Myles White, Fund Manager, Henderson Global Investors, commented:
“One of our primary aims when planning the extension to Buchanan Galleries was to provide a facility which would not only provide a quality location for new retailers wanting a presence in the City, but would also be attractive to leisure operators.
“A strong leisure offering is a key factor in extending the daily life of the centre, which is good for everyone concerned, and increasing its standing as a destination spot for families, couples and singles alike. To have attracted such a prestigious brand as Vue, clearly demonstrates that we are achieving that goal and gives me further confidence in the future success of Buchanan Galleries.”
DTZ acted for the Buchanan Partnership.
Source: Buchanan Partnership
4 Nov 2008