Revised plans for Peel’s £1.2bn Glasgow Harbour scheme were submitted to Glasgow city council today.
The new masterplan envisages 316,150 sq ft of additional retail, 506,000 sq ft of additional leisure space, including the Riverside museum, and 55,000sq ft of additional offices on the eastern segment of the scheme, near the SECC.
Upon approval, consent will exist for a total of 500,000 sq ft of retail space, 511,000 sq ft of leisure, and 600,000 sq ft of offices, to be brought forward over an estimated seven to 10 year period at the confluence of the Clyde and Kelvin rivers.
The original masterplan was first drafted in the late 1990s and was approved in June 2001.
“We are looking at the eastern part of the masterplan, which has changed simply because time has moved on,” claimed Lindsey Ashworth, development director with Peel Holdings.
Glasgow city council was originally concerned about sight-lines and routing through the scheme and a pedestrian bridge and improved access has been incorporated into the new masterplan.
However, an updated retail study has identified surplus spending capacity in Glasgow and its retail catchment area of £211m in 2011, rising to £590m in 2013.
In addition, since the original masterplan was approved, the scheme now competes with Retail Property Holdings’ 1.1m sq ft Silverburn shopping centre in Pollock, which went on site last October.
References: EGi News 14/02/06
