Land Securities, the UK’s largest commercial property company, has announced that it will open 2 kilometres of retail frontage in 2013 across two of the UK’s largest retail cities.
The move is a major vote of confidence from Land Securities as the firm continues their programme of significant investment in the UK economy.
Trinity Leeds will open on the first day of spring, March 21 2013. 185-221 Buchanan Street will follow suit on 22 March.
Trinity Leeds is the largest retail and leisure development under construction in the UK, and has achieved unprecedented leasing progress to date with 84% of the scheme pre-let or in solicitors’ hands. The development will be the only 1 million sq ft UK retail scheme set to open in the next four to five years.
Trinity Leeds – the size of 13 football pitches - is already a catalyst for other developments and initiatives across Leeds. The development has provided hundreds of jobs for construction workers, including employment and training opportunities for apprentices. Upon opening, more than 3500 people will be employed at Trinity Leeds.
The opening of Trinity Leeds is expected to lead to a significant increase in the annual retail spend in Leeds. The scheme will see a variety of new market entrants debuting in Leeds, including D&D London, Everyman, Hollister, Fossil, Mango, and Superdry.
Des Gunewardena, D&D London, the restaurant group famed for Skylon, Coq d’Argent and Quaglino’s, said: “Trinity Leeds is an important venture for us. Leeds has a significant and sophisticated business scene, and is a city where people enjoy eating out. Working with Land Securities, we wanted to be a part of what we think will be a very successful retail and leisure destination.”
185-221 Buchanan Street is 99% let or in solicitors’ hands and will host the first Forever 21 in Scotland alongside brands such as Paperchase, Gap, Fat Face, Skechers, Office and Watches of Switzerland.
For Paperchase, this will be its first flagship store in Scotland at circa 17,000 sq ft with product ranges based on the West End and Manchester stores. Gap will open a circa 12,000 sq ft store joining Forever 21’s 60,000 sq ft ‘anchor’ flagship store.
Glasgow is the UK’s second largest retail destination and the development is located opposite Buchanan Galleries; it will create a new prime pitch on Buchanan Street, one of the busiest high streets in the UK. The US fashion brand Forever 21 is the largest shop letting on Glasgow’s main high street.
Linda Chang, Global Marketing Director for Forever 21, said: “Forever 21 is always looking for unique retail spaces to complement the brand. We are excited to open our first store in Scotland at 185-221 Buchanan Street in Glasgow, Scotland where we will be able to offer all of the latest trends to Glasgow’s most fashionable shoppers in more than 61,000 square feet of retail space.”
Lester Hampson, Head of Retail Development at Land Securities said: “Land Securities is bringing an extra two kilometres of retail frontage to the UK market in one day.
“Our confidence in the success of both the Trinity Leeds and Buchanan Street schemes sends a very clear message to the international market: the UK economy is growing, and is open for business. With our unrivalled knowledge of the retail market, Land Securities is the partner of choice for ambitious retailers.”
