Paperchase and Gap sign with LandSec

Land Securities’ Buchanan Street project has signed up two retail chains, Paperchase and Gap. Paperchase will occupy nearly 17,000 sq ft and Gap will open a shop encompassing about 12,000 sq ft.

The signings come just shortly after the UK’s largest commercial property developer gave the go-ahead in March for the 155,000 sq ft retail project. These latest signings mean the scheme will be 68 percent pre-let on income and 75 percent by space two years before the March 2013 opening with just eight shop and restaurant units remaining in the development to be taken up

The 185-221 Buchanan Street project is only the second major city centre retail development to go ahead since the financial downturn. It is expected that the scheme will play an important role in affirming Glasgow’s national and international position as a major fashion destination and the style capital of Scotland.

LandSec managing director for retail, Richard Akers, said: “We’re really pushing ahead on developments and are seeing great momentum with this scheme securing strong lettings, which will crown Buchanan Street.”