The demolition of Glasgow's Buchanan Galleries could be vital for the future of Glasgow, experts have said.
The shopping centre faces being razed to the ground and replaced with a new 'mixed-use urban neighbourhood' in a bid to adapt to the public's changing habits.
Developers say the proposals reflect changes in retailing, exacerbated and accelerated by the pandemic, and other city centre impacts and trends.
The Scottish Retail Consortium (SRC) reported that retail sales were down by 13 per cent in the five weeks to January 1, compared with the same period two years ago.
Meanwhile, a study by the Centre for Cities found Glasgow had the equivalent of 42 weeks of potential lost sales between March 2020 and last November, one of the worst-hit parts of the UK.
The bleak figures are being reflected in shop closures, most recently the announced closure of Marks and Spencer store on Sauchiehall Street. Bosses there said 30 stores across the UK will close, owing to 'changing shopping habits'.
As well as creating a new mixed-use retail, office, leisure and residential quarter, the Buchanan Galleries development could improve access across the city centre to allow for more people to travel by bike or on foot while also boosting links between Queen Street Station and other public transport hubs.
The proposals have been welcomed by the cities Chamber of Commerce at what has been described as 'an incredibly challenging time'.
Stuart Patrick, Chief Executive of Glasgow Chamber of Commerce said: “Landsec’s aspirations for Glasgow and their proven track record in delivering high-quality mixed-use developments would be transformational at this incredibly challenging time.
"As a valued long-term investor in the city, we look forward to them bringing forward innovative plans that could position Glasgow in the vanguard of covid recovery. The scale of ambition of this private sector investment should be welcomed with open arms.”
The delivery of a new mixed-use urban neighbourhood has the potential to generate significant jobs and economic benefits, developers have said.
Over 850 construction jobs could be created each year during the build phase leading to over 9,500 permanent jobs for the city centre. On completion, this could result in over £1 billion of Gross Value Added to the economy each year.
The development could surround the void about Queen Street Station which gives a 'unique opportunity to create a new and exciting public space in the heart of Glasgow city centre' and will activate public space that could not otherwise be meaningfully, or viably, developed in the future.
Councillor Susan Aitken, Leader of Glasgow City Council, said: “Glasgow, like town and city centres everywhere, is facing significant and accelerating structural changes. These initial proposals detail a response to those changes, ensuring Glasgow has a vibrant, successful and evolving city centre which continues to be the envy of our peers.
"Approval for the commencement of negotiations with Landsec would allow us to push ahead with addressing oncoming challenges and opportunities in this rapidly changing world. A 21st century city centre delivering on Glasgow’s international standing and ambitions means more mixed-use developments, a greater residential population, more public spaces, sustainable transport options and more people-focused streets. The transformation of the Buchanan Galleries can be a vote of confidence on Glasgow’s future.”
