| Comment | Exactly. We've clearly reached the inflection point where landowners reflect that single-use retail hubs are not the money spinners they once were in terms of guaranteed rental income.
Build to rent housing is a much surer bet for continued income.
The owners of Buchanan Galleries, St Enoch Centre, Shawlands Arcade (and from what I hear, potentially Glasgow Fort) have all reached that conclusion separately.
It bodes well for the city centre though. Mixed use space with a focus on residential is only good for making the city centre more (economically) sustainable for decades to come. Not to mention the physical and mental impact that redrawing streets will have and breaking up monolithic retail blocks will have. |
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