Land Securites has placed its 拢390m development plans for Glasgow鈥檚 Buchanan Galleries shopping centre on hold
Land Securities has said it is not 鈥渃urrently pursuing鈥� its 拢390m expansion plans for the Buchanan Galleries shopping centre in Glasgow.
The firm said this was 鈥渄ue to an increased level of risk generated by the simultaneous delivery of the Edinburgh Glasgow improvement programme (EGIP).鈥�
The 拢742m EGIP programme by Network Rail includes the electrification of the Scottish rail network and upgrades of key junctions and infrastructure, including Queen Street Station, which is near to the galleries.
The developer added that it would 鈥渃ontinue to work鈥� on its plans to extend the Buchanan Galleries as Network Rail delivers EGIP over the next 18 months.
Lendlease was lined up to build the scheme for Land Securities and Henderson Global Investors after seeing off competition from Brookfield Multiplex and Laing O鈥橰ourke for the 拢230m contract.
The controversial plans for the extension of the shopping centre were approved by Glasgow City Council earlier this year despite 300 objection letters and a petition raising 14,000 signatures.
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