With a number of new leisure and retail developments currently undergoing work across the country, developers are in a race against time to ensure theirs will be current, popular and achieve optimum footfall levels. This is why so many are working overtime to stick to schedule and even complete milestones ahead of time – with one firm announcing it has done just that.
The £9 million Glasgow Fort project is an extension of the existing retail complex of the same name, spearheaded by British Land. Originally forecast to open in September of this year, it has now been confirmed that the complex has officially launched a week ahead of schedule; a fact which will allow it to take advantage of the end of the favourable summer trading season.
As with many leisure developments of the moment, the 45,000 square foot extension benefits from an eight-screen Vue multiplex cinema to draw in a younger consumer base. Furthermore, five popular restaurant chains – Chiquito and TGI among them – have already taken their place in the exciting development.
The announcement is just the latest in a long line of positive news stories coming from British Land this year. It now controls a property portfolio worth £10.5 billion, a 0.5 per cent increase since this time last year, and has seen underlying pre-tax profits increase to £274 million during the past 12 months.
Senior Asset Manager for British Land, Dan Clark, believes that this opening has unleashed much of the potential for the existing development.
He says; “The leisure extension cements Glasgow Fort’s premier regional centre status by broadening its appeal even further, establishing the scheme as a night time destination and helping to extend the centre’s trading hours.”
Do you think sticking to a very strict schedule and even beating targets is the key to success in the UK’s hugely competitive commercial property market, or will consumers always be more drawn to projects which have a stand-out feature or ample parking?
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