Land Securities

Land Securities appoints lead contractor to deliver Buchanan Street project

Press Release   •   Nov 11, 2011 08:54 GMT

Land Securities confirms the appointment of Balfour Beatty as the design and build contractor for its Buchanan Street retail and residential project in Glasgow City Centre.

The 155,000 sq ft, 185-221 Buchanan Street development, only the second major city centre retail development to go ahead since the financial downturn, is progressing at pace with site demolition almost complete. It is estimated that, at peak, over 100 construction workers will be on site with specific recruitment and training being targeted for new entrant employment and apprenticeships.

The £70m scheme is already 73.5% pre-let and 17.2% in solicitors’ hands. The shops, cafés and restaurants are due to open by March 2013, so will be operational well ahead of the Commonwealth Games in 2014. The residential part of the development (49 apartments) is due for completion by autumn 2014.

Nick Davis, Development Director at Land Securities, said: “We are pleased to appoint Balfour Beatty as the lead contractor, given their strong track record of delivering high quality, complex projects in busy city centres.

“This development is moving ahead rapidly and with already strong lettings will create a new prime pitch on Glasgow’s top retail street.

“As there is very little availability of well configured space in the right location, we are capitalising on this demand and will bring more national and international fashion brands to Buchanan Street in the coming months.”

Tim Clarke, Divisional Managing Director for Scotland from Balfour Beatty, said: “We are delighted to have been selected by Land Securities as their partner to deliver this prestigious development in Glasgow City Centre. The award will add a new dimension to our retail experience. We are committed to locally employing new apprentices and a significant number of new entrants to the construction industry. Balfour Beatty will actively use the 2014 Glasgow City Council portal for all local procurement.”