Glasgow

Glasgow is Scotland’s largest city and the third largest in the UK, with a population of approximately 593,000 and a wider catchment including the surrounding local authority areas of 1.75 million people. Situated in the Central Belt of Scotland on the west coast it is easily accessible by road, rail and air. Glasgow is also one of Europe’s top 20 financial centres and is home to many of Scotland’s leading businesses.

The city sits at the heart of Scotland’s largest urban economy, supporting 450,000 jobs in over 12,000 companies. Glasgow has a vibrant shopping district in the heart of the city focused around the pedestrianised areas of Buchanan Street, Argyle Street, and Sauchiehall Street. Argyll Arcade, one of Britain’s oldest covered shopping arcades built in 1827, is home to 32 jewellery shops, while Buchanan Galleries is one of the UK’s largest city centre retail projects. Other highlights include the refurbished St Enoch Centre, the Designer Exchange off Royal Exchange Square/ Ingram Street, and Princes Square set in a renovated 1841 square, which has a cosmopolitan selection of premium retailers and restaurants.

 

 

 

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Cushman & Wakefield, Inc. - Glasgow

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Buchanan Street: 55.863145, -4.252892
SAUCHIEHALL STREET: 55.864885, -4.256859
ARGYLE STREET: 55.858120, -4.253923
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SAUCHIEHALL STREET


The prime retail zone of Sauchiehall Street is pedestrianised and becomes progressively stronger on the approach to Buchanan Street and Buchanan Galleries, which lie at its eastern edge. The retailer profile is mass market/discount orientated and major stores include Primark, TK Maxx and BHS.
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BUCHANAN STREET


Buchanan Street represents 100% prime retailing, not just in Glasgow, but also the UK as a whole, and is one of the strongest pedestrianised retail thoroughfares in Europe. Mid and upper-market fashion brands dominate, clustered around House of Fraser, which anchors the southern end of the street.
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ARGYLE STREET


Argyle Street connects directly with the southern end of Buchanan Street, where it runs in an easterly direction toward Marks & Spencer, representing the end of the prime retail pitch. The thoroughfare is partly pedestrianised and is home to a number of mass market brands including H&M, Next, TK Maxx and Gap.

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Glasgow Shopping Centers - Cushman & Wakefield, Inc.

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Buchanan Galleries: 55.863801, -4.251387
St. Enoch Centre: 55.857708, -4.253855
Princes Square: 55.859262, -4.254504
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BUCHANAN GALLERIES

Buchanan Galleries is the newest shopping centre in the heart of Glasgow having opened in 1999. Positioned at the junction of Sauchiehall Street and Buchanan Street, Buchanan Galleries is the top shopping destination in Glasgow, anchored by a 275,000 sq ft John Lewis department store with other retailers such as H&M, Hollister, Next and Mango all located within the centre.
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ST ENOCH CENTRE

The St. Enoch Centre is the largest mall in the City Centre, and was subject to a major extension and refurbishment in 2009. St Enoch comprises 824,000 sq ft of retail and leisure space across 116 units, creating a strong retailing environment. The scheme is anchored by Debenhams and the mall is also home to a 28,000 sq ft Hamley’s flagship store.
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PRINCES SQUARE

Princes Square is a fashionable converted Merchant’s Square shopping centre housing a cosmopolitan selection of premium retailers, exclusive boutiques and restaurants. Princes Square is accessed from Buchanan Street and is home to COS, Reiss, Links of London, Jo Malone, Space NK and Vivienne Westwood.

MARKET OVERVIEW
KEY AREAS / STREETS/SHOPPING CENTERSCONSUMER PROFILEMAJOR RETAILERS PRESENTNEW ENTRANTSTYPICAL RENT FOR UNIT OF 2,000 SQFTRANGE OF UNIT SIZES
Buchanan Street Mid to premium market shoppersHouse of Fraser, Apple, Hugo Boss, Nike, All Saints, ZaraMassimo Dutti, Hawes & Curtis, Michael Kors£350,000 pa200 - 20,000 sq.ft
Argyle StreetMass market shoppersDebenhams, TK Maxx, Primark, Gap, Marks & SpencerYours, JD£175,000 pa200 - 20,000 sq.ft
Sauchiehall Street Mass market increasingly discount focused Marks & Spencer, Boots, TK Maxx, Primark, Bhs, PoundlandCosta, Vodafone£100,000 pa200 - 20,000 sq.ft
Buchanan Galleries Mass market shoppersJohn Lewis, Next, H&M, BootsThe Entertainer, Kimbles£175,000 pa200 - 20,000 sq.ft
St. Enoch CentreMass market shoppersDebenhams, Bhs, Boots, Hamley’sRohan, Swarovski, Muffin Break£75,000 pa200 - 20,000 sq.ft
Princes SquarePremium luxury and designer brandsCOS, Whistles, Belstaff, Links of London, ReissJoules, Pringle of Scotland, Shearer Candles£125,000 pa200 - 20,000 sq.ft

Data as of December 2015

Glasgow has experienced considerable growth in the restaurant sector over the last few years, with a number of expanding operators in the mid-market/fast casual dining sector opening new restaurants. This has been facilitated by a steady stream of available properties in the favoured 300-500 sq m size bracket.

Operators who have opened recently in the City Centre include Miller & Carter, Cau, Gusto, Trading House, Anchor Line, Bill’s, Five Guys, Gourmet Burger Kitchen, Ed’s Easy Diner, Hard Rock Café, Cote and Byron Burger.

There continues to be strong demand for both national restaurant operators and local restauranteurs for the area surrounding George Square, St Vincent Place, West George Street and St Vincent Street.

The City has a strong reputation as a profitable location amongst restaurateurs and public house operators, particularly at weekends where many operators report a spike in turnover higher than most other UK Cities. The prognosis is one of continued market expansion, with a number of new requirements emerging in the sector.

In contrast, Glasgow has an established (but limited in scale) fine dining market. Highlights include Rogano, Brian Maule at Chardon D’or and The Ubiquitous Chip, however growth in this sector has been notably absent recently, in stark contrast to the mid-market segment.

MARKET OVERVIEW
KEY AREASCONSUMER PROFILEFOOD & BEVERAGE OPERATOR INCLUDINGRENT FOR 3,500 SQFT UNIT
City Centre Late and lively leisure circuitJamie's Italian, Anchor Line, All Bar One, Café Rouge, Zizzi, Trading House£180,000 pa
Merchant City Trendy, educated, aspirationalMetropolitan, O'Neills, Arta, Café Gandolfi£100,000 pa
West End Trendy, urban, affluentZizzi, Di Maggio's, Cottiers, Ubiquitous Chip£150,000 pa

Data as of December 2015


Glasgow Contacts

STUART MONCUR

Partner, National Retail Services
3rd Floor, 63A George Street
Edinburgh
Scotland, EH2 2JG
Tel: +44 (0)131 226 8754
Mob: +447887 795506