Land Securities' Latest UK Investment

(Proposed rendering)

(Proposed Elevation)

Land Securities, the UK’s largest commercial property developer and the subject of several All Things Retail Development posts has been given approval to move forward with a $110 million retail and housing development in Glasgow city center.  The development, consisting of 155,000 SF, will be anchored by US based Forever 21 (their first in Scotland), two other large stores (yet to be named), other retail, restaurants, and 49 housing units.  Construction is expected to start immediately and will be completed in 2013. 

Buchanan Galleries, another Land Securities project consisting of 4 floors and 600,000 sf is located adjacent to the project.

Land Securities has been grabbing many of the retail development headlines of late with their news of investment in various properties and their bullish outlook on the future of retail development.  

To view the Land Securities press release:

Land Securities Development to Boost Scotland's Economy

For previous ATRD Posts:

Trinity Leeds:  A Sign of the Times?

Land Securities Continues its Growth Plans

Trinity Leeds Update:  Tenant Spaces in Demand


  

Land Securities Continues its Growth Plans

(Bon Accord Centre - A Land Securites Property)

Land Securities announced in their half-year results their intention to expand their retail portfolio.   This is the latest in a series of articles about UK and European companies moving forward with retail projects.  


See the full article here:
Land Securities Plans Further Retail Development


Land Securities press release:
Half-Yearly Results for the six months to 30 September 2010


Previous All Things Retail Development Posts:
United Kingdom Retail Development Update


More Good Retail Development News from London


Trinity Leeds:  A Sign of the Times?


 

United Kingdom Retail Development Update

(Eldon Square Shopping Centre)

Capital Shopping  Centres, one of UK’s largest developers and owners of 13 regional shopping centres totaling 14 million sq ft announced today they are planning £78 million in capital projects.  The purpose for this investment is due to the strong growth in retail and a “reduced supply of new high-quality retail space”. 

Once again the news from the UK is bullish on retail development.  We have seen similar statements from Land Securities and their investment in Trinity Leeds, as well as this post about construction spending at it relates to supermarkets and Europe in general.

Here is the article from Building.co.uk:
CSC Plots £78m of Retail Development

For the brief in its entirety see CSC's website:
Interim Management Statement


  

Trinity Leeds: A Sign of the Times?

(Image from Land Securities)

Trinity Leeds is a significant retail development located in Leeds, a city and borough in West Yorkshire, England.  This project is the first major development in the United Kingdom since the recession and is thought to be a catalyst for other development and a sign that the worst of the poor economic circumstances may be behind us.  Land Securities, the UK’s largest real estate investment trust is developing this project that will include 750,000 sf of retail and restaurants located in the urban core of Leeds, located about 200 miles north of London. 

A significant architectural feature will be its partially glazed roof which will allow an outdoor or "Lifestyle Center" feel in what will be a more traditional indoor mall.

Fouty-Three percent of the space has been leased to date including Next, TopShop, River Island, Hollister and a planned expansion of Marks & Spencer.

The 120 store, $536 million dollar project is expected to open in spring of 2013.

(Image from Land Securities)

See the Wall Street Journal article here:

Land Securities Pushes Development with Trinity Leeds Start

And Bloomberg article here:

Land Securities to Start First Mall Outside London Since Financial Crisis


For other related posts from this Blog, see:
Land Securities Continues its Growth Plans


Based on what you see in the US economy - does a project like this give you confidence that we are on the road to recovery?