Three contractors have been shortlisted for Land Securities’ £230m revamp of the Buchanan Galleries shopping centre in Glasgow.
The contractors are Brookfield Mulitplex, Laing O’Rourke Scotland and Lend Lease.
Land Securities completed a land swap on its Buchanan Galleries scheme in Scotland with Henderson Real Estate earlier this month.
Henderson Real Estate exchanged its 50 per cent stake in the Glasgow scheme for Land Securities’ share in the Princesshay shopping centre in Exeter, which saw Henderson entering a new partnership with The Crown Estate.
Land Securities now owns 100 per cent of the Buchanan scheme.
Speaking to Construction News after the land swap announcement, Henderson Real Estate director of development Martin Perry said “there was too much development exposure” on the scheme, coupled with a lack of resources to cover both that project and St James in Edinburgh, and that it was therefore appropriate to break away.
The contractors were shortlisted before the land swap with plans to originally appoint a winner in November, but this has since been pushed back to the start of 2015.
The centre will include 100 shops, 25 restaurants and a multi-screen cinema once completed.
It will involve building an extension above the existing multi-storey car park to house the cinema, extending the west wing of the centre to create retail space and building a new multi-storey car park.