763 ( 876) million Retail GVA

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2 RETAIL PROSPECTUS R E A S O N S TO INVEST IN GLASGOW No. 1 UK retail destination (Outside of London s West End) Cosmopolitan and vibrant food and drink scene 2.4 million tourists visit each year 708 ( 813) million spend 763 ( 876) million Retail GVA 2nd highest prime rent in UK at 329 per sq ft. ( 4,073 per sq m.) UK s No. 1 out-of-town retail centre 1 ( 1.5) billion annual spend by 20 million day visitors 50 million people annual footfall on Glasgow s prime Buchanan St Significant & Sustained Retail development & Investment 4.2 ( 4.8) billion annual retail spend 2nd highest in the UK Shopaholic s Paradise Lonely Planet Friendliest City in the World Rough Guide Large retail workforce of 35,000 people Retail destination for global brands

3 INVEST GLASGOW ECONOMY Scotland s largest city Powerhouse of the Scottish economy 4th largest city in UK Diverse, resilient and growing economy 856,000 city region jobs (34% of Scottish total) 48,000 city region businesses (28% of Scottish total) 41.4 ( 47.5) billion city region GVA (30% of Scottish total) Job Creation - 50,000 new jobs targeted by 2023 DEMOGRAPHICS 622,000 city population Increases to 1.8 million population for wider city region EDUCATION World-class talent pool 46% of population educated to degree level 185,000 students from over 140 countries 6 higher education institutions 6 super colleges CONNECTED Glasgow is Scotland s main transport hub Excellent road, rail, shipping and air services Easily accessible from 3 Scottish airports serving over 150 worldwide destinations A UK digital leader with full fibre digital infrastructure investment underway INVESTMENT Over 16 ( 18.4) billion capital investment since 2011 No. 5 city in UK for fdi (outside London) Largest sporting infrastructure outside London COMPETITIVE BUSINESS ENVIRONMENT Lower property costs than London (-73%), Manchester (-10.5%) & Edinburgh (-17%) (based on Grade A office rents) Lower salary costs than London (-29%) & Edinburgh (-5%) Large Global Cities of the Future 2018/19 (fdi Intelligence) - Top 3 - Business Friendliness - Top 4 - Human Capital & Lifestyle - Top 6 - Connectivity - Top 9 - Overall WORLD-CLASS SPORTING AND EVENTS CITY UK s Best Convention Bureau 12 years running The SSE Hydro Best Performing Venue in the World (10,001-15,000 capacity) Ranked No. 5 Ultimate Sports City in the World in 2018 Ranked No. 1 Best Small City in the World for hosting sporting events in 2018 UK s first UNESCO City of Music 01

4 RETAIL PROSPECTUS INDUSTRY PERSPECTIVES JOHN MENZIES, DIRECTOR, IN TOWN RETAIL, SAVILLS The tribulations of bricks and mortar retail never appear far from the news headlines at present. With 17% of retail sales nationally now made online and projected to grow to 20% by how we spend our money and our time continues to profoundly shape the UK retail market and its real estate. Despite these headwinds, the retail market in Glasgow City Centre remained strong in 2018, and we expect it to remain so in But why should the City be bucking this national trend, and markedly so? Physical retail remains very important for major retailers, but the highest levels of consumer and tenant demand is now reserved for the UK`s very best High Streets and Shopping Centres. The picture is very different in smaller, non-destination and inconvenient town centres. With Glasgow enjoying an enviable position as the UK`s 2nd best retailing location outside of London, it attracts considerable attention from the major international retailers, attracted by existing retailer performance and the presence of the major brands. Buchanan Street in particular offers a world class shopping environment, and has been the focus for many retailers to open new, eye-catching stores saw new store openings from Victoria`s Secret, Nespresso, Levi`s, Vapiano and Mulberry in the City Centre all with the exception of Mulberry on Buchanan Street. Looking ahead, retailers who have committed to open new stores in 2019 include Schuh, Gant, The Ivy, Belstaff, Fred Perry, Jo Malone and Bo Concept. Savills are also in discussions with a number of other retailers who are considering Glasgow at the moment, which could see the likes of Morphe, Arket and Carhartt setting up shop. Rental growth has also been evident, although this has largely been reserved for smaller units of under 1,500 sq.ft. (140 sq m.) where competition for the best sites has driven rents up to 321 per sq.ft. ( 3,974 per sq m.) Zone A. You will struggle to find another UK city that has seen comparable rental growth over the last 36 months to Glasgow s Buchanan Street. Glasgow`s food & beverage scene has experienced a sustained period of growth, and in 2018 it was the independent operators who led the way with a number of new eateries, including Stack & Still on West George Street, La Vita Spuntini on Gordon Street and So L.A. on Mitchell Street promises another wave of new and exciting operators including Project Pizza, Benihana and the eagerly awaited Ivy Restaurant who are scheduled to open their striking new restaurant at 106 Buchanan Street in the spring. We are also seeing fresh development activity in the retail and leisure sector emerging. Construction of a new Vue Cinema and 8 restaurants is ongoing at the City Centre`s largest mall, St Enoch, where landlord Blackstone is investing 35 ( 40) million in a new entertainment hub which will complement the existing shopping offer by summer Outside the City Centre, exciting new plans have been unveiled at Glasgow Lifestyle Outlets, where Peel are to develop Scotland`s first premier Outlet Development close to the City`s cosmopolitan West End, which will also comprise a major leisure and entertainment component. The City has not seen such a major new retail development since 2007, and it is encouraging to see a new project on this scale taking shape promises to be another strong year for retailing in the City. Glasgow is set for its next renaissance, and the retail and leisure sector promises to be at the very heart of this exciting future.

5 INVEST GLASGOW GRANT LONSDALE, SENIOR REAL ESTATE ANALYST, COSTAR GROUP Investor demand for retail assets in Glasgow held up relatively well in 2018, despite the myriad of headwinds impacting the sector overall. Investment volumes last year (around 130 ( 149) million were broadly in line with the levels of spending recorded during , with properties in Glasgow s prime retail core remaining the principal focus of investor attention. Both domestic and overseas buyers continued to target shops on Buchanan Street, the city s prime pitch, where enduring high footfall, low vacancies and healthy occupier demand have driven prime Zone A rents up to 320 per sq.ft. ( 3,961 per sq m.) (the highest of any regional city). Robust investor demand has helped to support pricing, with some prime assets on the street trading at yields as low as 4%. Spanish investor Pontegadea s purchase of Buchanan Street and 9 17 Exchange Place for 31 ( 36) million (a 4% yield) and Dutch asset manager Redevco s acquisition of Buchanan Street for 14 ( 16) million (a 4.1% yield) were among the most notable deals of These deals followed earlier purchases by both investors, with Pontegadea buying the Apple Store and Redevco purchasing the Nike Store in DTZ Investors also returned to central Glasgow last year. The firm acquired Buchanan Street two adjacent prime retail units let to Scribbler and Swatch for 9.4 ( 11) million (a 4.2% yield); before agreeing to sell the iconic House of Fraser department store, on behalf of Strathclyde Pension Fund, to Sports Direct for 95 ( 109) million (also a 4.2% yield, with the sale expected to complete in early 2020)

6 RETAIL PROSPECTUS A G L O B A L BRAND CITY Boasting the UK s largest retail phalanx outside London, Glasgow is a shopaholic s paradise. The Style Mile around Buchanan Street, Argyle Street and Merchant City is a fashion hub. - Lonely Planet: Great Britain Having firmly established itself as one of the UK s leading world-class shopping destinations over many years, Glasgow continues to successfully attract new global brands to enhance the city s retail offer. over the last year and the US fashion and accessories brand Kate Spade announcing exciting plans to open a new store in Princes Square in the summer of 2019 which will be only the second in the world to feature the brand s new design concept. Glasgow also boasts many unique independent designer and flagship stores for British and international retailers. The city is home to an abundance of luxury outlets while independent retail and leisure outlets are vibrant and continue to grow in variety and scale. Consequently, demand for Glasgow s prime retail pitch remains extremely strong with US Victoria s Secret and Australia s Smiggle opening at Buchanan Galleries

7 INVEST GLASGOW ALL SAINTS APPLE STORE BELSTAFF BOSE CATH KIDSTON CLARKS CASTLE COS CRUISE DEBENHAMS DIESEL DOWER AND HALL DUNE EDEN MILL EMPORIO ARMANI END FAT FACE FOLLI-FOLLIE FRASERS FRENCH CONNECTION GANT GIO-GOI HAMLEYS HAWES AND CURTIS H&M HOBBS HOLLISTER HOTEL CHOCOLAT HUGO BOSS JACK WILLS JO MALONE JIGSAW JOHN LEWIS KAREN MILLEN KATE SPADE KIEHL S KIKO MILANO KURT GEIGER LE CREUSET LES-100-CIELS LEVI S LINKS OF LONDON LIPSY L.K. BENNETT L OCCITANE MANGO MASSIMO DUTTI MICHAEL KORS MONKI MULBERRY NESPRESSO NIKE OFFICE PRETTY GREEN RALPH LAUREN REISS REPLAY SKECHERS SMIGGLE SPACE NK SWAROVSKI SUPERDRY SWATCH T2 TED BAKER THE DISNEY STORE THE WHITE COMPANY THOMAS SABO THOMAS PINK TIMBERLAND T M LEWIN URBAN OUTFITTERS VANS VICTORIA S SECRET VIVIENNE WESTWOOD WHISTLES WILLIAM HUNT ZARA 04 05

8 RETAIL PROSPECTUS THE STYLE MILE The biggest global brands and major UK retailers can be found in Glasgow s Style Mile a square mile in the very centre of the city which houses an extraordinary concentration of shops. There is an exceptional selection of outlets in the Style Mile with malls, independent boutiques and designer stores including: Buchanan Galleries, Buchanan Quarter, St. Enoch Centre, Argyll Arcade, Princes Square, House of Fraser and Merchant City. BUCHANAN GALLERIES Provides a modern mall which showcases over 80 famous name retailers anchored by a John Lewis department store extending to four floors. This huge mall is also home to UK High Street fashion favourites such as Next, Warehouse, River Island, Swarovski, Hollister and Mango. Buchanan Galleries further enhanced its retail offering in 2018 with the addition of new stores by high profile brands including Victoria s Secret, Monki, Smiggle and Fred Perry. BUCHANAN QUARTER A recent new development at the top of Glasgow s prime retail pitch, Buchanan Street, brings an exciting mix of retail and residential property to Scotland s premier shopping and leisure destination. With the addition of new retailers including H&M s largest UK store, Paperchase, Gap, Fat Face, Skechers, Office and Watches of Switzerland among many others, Buchanan Quarter has quickly become established as a firm favourite with shoppers. ST. ENOCH CENTRE The St. Enoch Centre is situated at the corner of Buchanan Street and Argyle Street and anchored by a huge Debenhams. St. Enoch Centre is a modern mall housing popular names in high street shopping including H&M, Top Shop and Superdry alongside world-famous brands such as Hamleys and The Disney Store, plus a food court all under one roof will see the completion of St Enoch s new 35 ( 40) million entertainment and leisure hub which will include a nine-screen Vue Cinema and eight new restaurants.

9 INVEST GLASGOW PRINCES SQUARE Over twenty five years ago, this early 19th century architectural gem, half-hidden behind Buchanan Street, was restored, roofed over and re-invented as an addition to Glasgow s retail offer. Princes Square is home to luxury brands including Kurt Geiger, Dower & Hall, Links of London, Space NK and Jo Malone London. Since its inception Princes Square has been a major fashion destination in Scotland with Vivienne Westwood, Belstaff, COS, Whistles, French Connection, Reiss, Ted Baker all at home here. HOUSE OF FRASER Established in 1849, Frasers is one of Scotland s premium department stores. Standing at the bottom of Buchanan Street, it is the most iconic building on Glasgow s Style Mile, offering five floors of retail including an internationally renowned Beauty Hall and brands that you will not find anywhere else in Scotland. The mall was also recently chosen as only the second location in the world by Kate Spade to feature the brand s new design concept. In 2018, Princes Square significantly enhanced its leisure offering when it became home to the only boutique cinema in Scotland run by the independent operator, Everyman Cinemas, with three screens and a bar, serving food and drink. MERCHANT CITY ARGYLL ARCADE The Argyll Arcade offers the largest and finest selection of diamond rings, diamond jewellery, wedding rings and luxury watches in a single location in Scotland. Widely regarded as the diamond jewellery centre of the North, the Argyll Arcade hosts more than 30 jewellers and diamond merchants all under one roof. The nearby Merchant City is a vibrant quarter full of bars, restaurants and high-end boutiques. The Italian Centre and Ingram Street are home to a range of designer names including Emporio Armani, Brora, Ralph Lauren, Mulberry, End, Hugo Boss, Replay, Cruise and Jigsaw. Such is the popularity of Merchant City with luxury brands, Mulberry has chosen to open a new expanded store based on the brand s outlet in London s West Regent Street with fashion label GANT also choosing Merchant City for a new store in

10 RETAIL PROSPECTUS P R I M E R E T A I L MARKET OVERVIEW Glasgow is a shopaholic s paradise according to Lonely Planet and is ranked number one UK retail destination outside of London s West End. Over half a million square metres of retail space can be found in the city, with prime and super prime shopping to be had within one square mile in the city centre, known as the Style Mile. Buchanan Street, Glasgow s premier shopping street, is the busiest high street in the UK, after London, with an average hourly footfall of over 5,700 people. Glasgow s retail sector generates an annual spend of more than 4.2 ( 4.8) billion, 763 ( 876) million in GVA and sustains a substantial retail workforce of 35,000 people. Post Brexit, the retail sector continues to demonstrate real strength and resilience. Indeed, Glasgow s enduring appeal to international retailers, most notably Buchanan Street continues to enjoy strong demand and steady rental growth. In the last 12 months, the most expensive Zone A rate has risen by 4.8% from 314 per sq.ft. to 329 per sq.ft. ( 3,887 per sq m. to 4,073 per sq m.) ANNUAL FOOTFALL 50 MILLION PEOPLE Since late 2013, more than 200 of Glasgow s city centre retailers have extended their opening hours to 7pm on weeknights, bringing the city more in line with continental operating hours. The move comes on the back of strong customer demand and consumer research. Footfall figures recorded on four key locations on the Style Mile collectively amounted to just under 50 million people in 2018.

11 INVEST GLASGOW UNITED KINGDOM RETAIL MARKET SNAPSHOT Source: Cushman & Wakefield - United Kingdom Retail Market Snapshot Q MARKET INDICATORS INDICATOR Prime Rents Prime Yields Supply Demand MARKET OUTLOOK PRIME RETAIL RENTS (September 2018) HIGH STREET SHOPS PRIME RETAIL YIELDS (September 2018) HIGH STREET SHOPS (NET %) Limited opportunities for rental growth, with incentives moving out in many locations. Predominantly stable with outward movement in secondary locations. Availability is expected to tick up going forward, as CVA s and store closures continue. Demand remains selective, focusing on key locations. Current Quarter Previous Quarter Previous Year 10 Year High 10 Year Low London (West End) Glasgow Manchester Leeds Edinburgh Birmingham Cardiff GLASGOW RETAIL MARKET SUMMARY: HISTORY AND OUTLOOK Glasgow Europe Index Zone A SQ.FT YR MARKET SIZE TOP 10 UK RETAIL CENTRES CENTRE Retail Spend Potential ( ) Retail Spend Potential ( ) Vitality Rank Change Since 2014 London (West End) 9,141,226,044 10,488,122, Glasgow 4,260,877,222 4,888,687, Birmingham 3,378,666,154 3,876,489, Manchester 3,534,636,565 4,055,440, Leeds 3,180,292,167 3,648,886, Liverpool 3,102,829,857 3,560,010, Nottingham 3,003,776,127 3,446,361, Cardiff 2,798,170,147 3,210,461, Newcastle-upon-Tyne 2,796,940,154 3,209,049, Edinburgh 2,346,843,910 2,692,635, Source: Harper Dennis Hobbs Vitality Index 2017 Prime Rent Prime Income Return Prime Appreciation Return Prime Total Return % 5.1% 2.9% 8.0% % 4.9% 2.0% 6.9% % 4.5% 2.8% 7.4% % 6.0% 6.6% 12.6% % 5.3% 9.7% 15.0% % 4.1% 2.5% 6.6% Sources: CoStar Portfolio Strategy; Various Brokers SQ.M YR US$ SQ.FT YR Growth % 1 YR London (West End) 2,250 16,339 1, Glasgow 320 2, Manchester 280 1, Leeds 245 1, Edinburgh 240 1, Birmingham 210 1, Cardiff 200 1, Growth % 5 YR CAGR 08 09

12 RETAIL PROSPECTUS VIBRANT OUT-OF-TOWN RETAIL Global shopping brands and independent retail is thriving in the city but outof-town shopping is also booming with Glasgow Fort once again ranked as the UK s leading retail park destination (Javelin Group, Venuescore 2017). In total, there are five out-of-town retail and leisure parks across the city of Glasgow and its near-by surroundings, namely Glasgow Fort, Silverburn, The Forge, intu Braehead and EK (East Kilbride). Glasgow Fort and Silverburn are Glasgow s newest, biggest and most successful out-of-town retail and leisure shopping destinations. GLASGOW FORT Glasgow Fort opened for business in 2004 and is now the United Kingdom s number one out-of-town retail and leisure park. The centre offers a whole range of the UK s favourite retail brands. With almost 100 outlets, Glasgow Fort is an award-winning shopping experience with 2,500 fee parking spaces. Situated in Glasgow East, just off junction 10 of the M8 motorway, the Fort, as it more commonly referred to by patrons, is very accessible and home to leading shopping brands including Marks & Spencer, Top Shop, Zara, River Island, H&M, Next, Schuh and new arrival Skechers. The Fort s flagship retail and leisure offer continues to thrive through further investment and development which has seen the introduction of an 8 screen Vue Cinema and an array of eateries including Nando s, TGI Friday, Wagamama and many more alongside its most recent development, a 5 ( 5.75) million purposebuilt Sports Direct gym which includes a branch of the designer brand Flannels. Extended opening hours to 10pm through Monday to Friday to 8pm and 7pm on Saturday and Sunday respectively, provides the modern-day shopper with the retail accessibility they demand. Naturally, the Fort s leisure facilities open later still.

13 INVEST GLASGOW SILVERBURN Built in 2007 and located in the south side of Glasgow, Silverburn is one of the largest shopping centres in the UK. It includes 1,000,000 sq.ft. (93,000 sq m.) of retail and leisure space, 2000 parking spaces in a multi-story car park and 25,000 ground spaces. Anchored by UK staple retail brands including Marks and Spencer, Next, Debenhams and Tesco, Silverburn has around 100 retail outlets and a substantial day leisure offering that comprises a 14 screen Cineworld Cinema, 14 restaurants and several fast-food and coffee shop chains including everyday favourites such as Five Guys, Nando s and Tim Hortons. Silverburn operates with extended opening hours very similar to those of the Glasgow Fort, which again, has proven to be very popular with shoppers. Silverburn s reputation as a first-class retail and leisure destination continues to go from strength to strength with the addition of a raft of new arrivals in 2018 including Pakistani-based fashion retailer Khaadi and UK s fashion brand Quiz alongside the debut for new children s leisure concept, Fun Street and a new 12,000 sq.ft. (1,115 sq m.) Pure Gym unit. SCALE AND CAPACITY FOR MULTIPLE RETAIL SITES Glasgow s successful out-of-town retail market has grown exponentially since This has resulted in extensive retail and leisure chain expansion and roll-out activity by many large UK and international retailers and leisure operators to take their presence beyond Glasgow city centre into all city areas and neighbouring towns

14 RETAIL PROSPECTUS KEY RETAIL DRIVERS A world-class city in which to live, work, study, invest, meet and visit, Glasgow is Scotland s cultural powerhouse. It proudly boasts the largest cultural offer and largest sporting infrastructure outside London. People from all around the world visit Glasgow because it is now one of Europe s most vibrant and cosmopolitan cities, where business, sport and international culture flourish. The city that inspired the art nouveau genius, Charles Rennie Mackintosh, is now a dynamic 21st century metropolis. Each year, millions of people from across the world visit Glasgow to enjoy everything it has to offer. RETAIL AND LEISURE Comprehensive Retail Offer Glasgow is an exciting and extensive retail destination for shoppers. The style mile s Buchanan Street adjoins Sauchiehall Street and Argyle Street to form what is known as Glasgow s Golden Z of retail. These three major city retail thoroughfares are relatively unbroken and despite being some distance apart, each area within the Golden Z will be visited by a large proportion of shoppers as part of one shopping trip. Beyond the integrated retail food and beverage offering, Glasgow s food and drink scene is vibrant and firmly part of the city s unique culture. Glasgow s culinary offering is imaginative and cosmopolitan and the range of choice for visitors is breathtaking, with new restaurants popping up on a regular basis, sector growth remains strong. This is demonstrated by highprofile new-arrivals including Tim Hortons (first outlet in Europe), Taco Bell (first outlet in Scotland), Smash Burger, Vapiano, Project Pizza and Catch. Other new and exciting culinary offerings include Absurd Burd, Revolution, Mharsanta, Bibimbap, Stack, La Vita Spuntini, Still, the UK s largest urban pancake restaurant and So L.A, a Californian-inspired restaurant and bar with further arrivals including world-famous The Ivy and Benihanas eagerly anticipated in This distinctive food and drink experience is guaranteed to enhance the visitor experience in the city. SPORTING AND EVENTS CITY Glasgow s is recognised as having the UK s Best Convention Bureau (12 years running), one of the world s top five cities for sporting events, with the SSE Hydro ranked first in the global Billboard Chart Top 10 Venues Index and the third busiest entertainment arena in the world. Food and Beverage Integrated food and beverage is a key value driver and an increasingly important component of a retail and leisure destination s overall brand proposition. Glasgow s integrated food and beverage provision throughout the Golden Z is substantial and varied and provides shoppers with real choice. Whether they want to simply enjoy a coffee at Costa s, afternoon tea at Darcy s or dinner at the NY American Grill, there really is something for everyone.

15 INVEST GLASGOW Kelvingrove Art Gallery and Museum TOURISM Glasgow has a robust economy and busy calendar of events until 2024, attracting leisure and business tourists all year round and ensuring the retail sector in the city thrives. Tourism Day Visits 20m PEOPLE 1 ( 1.15) Billion Spend BUSINESS TOURISM Leisure Day Visits* 46m PEOPLE 1.5 ( 1.7) Billion Spend *3 HOURS+ AVERAGE In the UK, Glasgow is second only to London in attracting international conference delegates with the capacity to host more conferences and welcome more business delegates than Scotland s six other cities combined. Glasgow s tourism business is not seasonal; with a yearround conference calendar, Glasgow is always open for business. People from across the world visit Glasgow to experience its cultural offerings including the city s excellent museums, world-class art galleries and exhibitions, theatres, festivals and breathtaking scenery. WORLD-CLASS CULTURE Home to the Royal Scottish National Orchestra, National Theatre of Scotland, BBC Scottish Symphony Orchestra, Scottish Opera and Scottish Ballet and an internationally acclaimed reputation in contemporary art, design and music. A CENTRE OF EXCELLENCE FOR VISUAL ARTS Eight Turner Prize winners, including the 2018 winner and 12 nominees have lived, trained or worked in the city in recent years. EUROPE S FINEST CIVIC ART COLLECTIONS Two of the world s finest civic art collections can be found in Glasgow, at the Burrell Collection and Kelvingrove Art Gallery and Museum. GREAT NATURAL BEAUTY The archipelago of the Clyde Coast and Islands and the Highlands stunning scenery is on the city s doorstop, just 45 minutes away

16 RETAIL PROSPECTUS GLASGOW OPEN FOR RETAIL BUSINESS RETAIL AND LEISURE INVESTMENT The public and private sectors in Glasgow adopt a proactive and innovative partnership approach to continuously improve and develop Glasgow s retail and leisure sector to sustain its position as the largest and best retail destination outside of London. This has seen significant public and private sector investment in retail and leisure infrastructure in the city over the last 20 years underpinned by a strong investment pipeline. destination in the city. Comprising a nine-screen 30,000 sq.ft. (2,800 sq m.) Vue Cinema at second floor and nine first-floor restaurants, ranging in size between 2,000 and 5,000 sq.ft. (186 sq m. to 465 sq m.), it will link into the centre s newly refurbished food court. St. Enoch Centre St. Enoch Centre 35 ( 40) million Development Sovereign Centros has begun the 35 ( 40) million development of the eastern end of the 865,000 sq.ft. (79,500 sq m.) St. Enoch Centre in Glasgow city centre. The development within the 76,000 sq.ft. (7,000 sq m.) former BHS store will re- anchor the St. Enoch Centre and provide a new leisure and retail offer cementing its position as a premier shopping and leisure The project is scheduled for completion by early Plan to build 100 ( 115) million Glasgow Harbour Lifestyle Outlet Glasgow Harbour Ltd on behalf of Peel Lifestyle Outlets has submitted plans to Glasgow City Council to build retail and leisure complex with shops, restaurants and cinema on the banks of the city s River Clyde to west of Glasgow city centre. It is anticipated that the Glasgow Harbour Lifestyle Outlet will create 2,000 new jobs when it opens in Glasgow Harbour Lifestyle Outlet

17 INVEST GLASGOW Argyle St. and Buchanan St. The Avenues Project Glasgow City Centre Heilanman s Umbrella As part of a 1.13 ( 1.3) billion Glasgow City Region City Deal, Glasgow City Council is investing approximately 115 ( 132) million within the city centre to deliver on the Enabling Infrastructure Integrated Public Realm programme. Better known as the Avenues Programme, it will implement catalytic measures to dramatically improve the quality of the city centre environment. By redressing the balance between vehicles, pedestrians and cyclists, and transforming perceptions of the city for citizens, visitors and investors alike, the Avenues programme aims to make fundamental improvements to Glasgow s city streets. Glasgow Cross 14 15

18 RETAIL PROSPECTUS WHY GLASGOW? With a can-do attitude, a commitment to being the most businessfriendly city in the UK, and more than two million visitors a year it's people that make Glasgow. OPEN FOR BUSINESS Top businesses choose Glasgow for many reasons. They say it is because of the quality and loyalty of the flexible and qualified workforce, the cosmopolitan feel of a large city, great access, world-class and cost-effective office space and one of the most sophisticated and competitive telecommunications environments in Europe. Glasgow attracts and sustains major international companies because they are able recruit and retain highly-skilled staff from a world-class talent pool. 185,000 students from 140 countries study each year across the city region s 6 universities and 6 super colleges. Glasgow s graduate retention rate is amongst the highest in the UK. Large Global Cities of the Future 2018/19 (fdi Intelligence) > Top 3 for Business Friendliness > Top 4 for Human Capital and Lifestyle > Top 6 for Connectivity > Top 9 Overall 5th in the UK for FDI in 2017 (outside of London). Office, leisure and retail space to suit every type and size of business and exciting new development opportunities too. Since 2011, the city has secured more than 16 billion ( 18.4 billion) in capital investment across housing, retail, health, education, hotels, offices, leisure and industrial space. The first Scottish city to secure City Deal funding from the UK and Scottish Governments billion ( 1.3 billion) will fund major infrastructure projects and drive innovation, whilst levering in 3.3 billion ( 3.8 billion) of additional private investment. Scotland s economic powerhouse Glasgow city region generates 41.4 billion ( 47.5 billion) GVA every year to the national economy, 30% of the Scottish total. Generating 48,156 ( 55,287) GVA per job filled. Excellent transport links the city is served by three international airports with direct flights to over 150 destinations. Once you arrive, getting about is easy by road, rail, public transport and on foot. A UK digital leader with full fibre digital infrastructure investment underway.

19 INVEST GLASGOW FORWARD-THINKING CITY Scotland s only metropolitan city is firmly setting its sights on becoming the most innovative and productive city in the UK. Glasgow is: Keeping pace with emerging trends including the provision of flexible co-working space, build-to-rent city centre living while future-proofing investment through enabling infrastructure, smart technologies and world class digital connectivity. Glasgow is undergoing a digital transformation, as CityFibre makes its largest core infrastructure investment, rolling out almost 300km (186 miles) of modern full fibre digital infrastructure across the city. This investment in Glasgow s initial core infrastructure is delivering gigabitcapable broadband to almost all of Glasgow s businesses and public sector buildings. With modern, fit-for-purpose digital infrastructure at its foundation, Glasgow is rising in the ranks as a UK digital leader; promoting greater levels of innovation and productivity, making the city more investable and giving a digital boost to the local economy for decades to come. Glasgow has all the necessary attributes in place to create and host vibrant innovation eco-systems that will see the city successfully establish 3 new innovation districts, the first of their kind in Scotland: These include: > Advanced Manufacturing Innovation District Scotland (AMIDS) will create an internationally recognised centre for innovation, research and manufacturing. > Glasgow City Innovation District a unique and proven city centre-based live, work, play, innovate environment that is attractive to talent, innovation, active companies and investors. > Glasgow University Innovation District will drive innovation across 4 key themes smart campus, precision medicine and chronic diseases, the nano and quantum world, and cultural and creative economies. Delivering exciting City Deal projects, with over 100 ( 115) million of city centre investment underway with the Avenues Project which will see Glasgow s major city centre streets revitalised and act as a binding mechanism to integrate public realm and placemaking initiatives, making the city more attractive, people-friendly and more economically competitive. A leading city for renewable technology by using its historic strengths in engineering and education, to deliver a low carbon circular economy that will deliver a greener environment for its businesses, residents and visitors. Committed to becoming one of Europe s most climateready regions. Communities across the region are being transformed and future-proofed as a result of investment in green networks incorporating sustainable urban drainage, as well as large-scale flood prevention schemes. Home to Scotland s first 3 innovation districts Top 3 Large Global City of the Future for Business Friendliness 2018/19 Job Creation target of 50,000 new jobs by 2023 KEY GROWTH SECTORS Glasgow s ambitious Economic Strategy was launched with the prime objective of making Glasgow the most productive major city economy in the UK. Alongside this, the strategy has set an ambitious new jobs target of 50,000 by Out of the UK s 10 core cities, Glasgow has the fastest growing levels of productivity. The key to this success is the diversity of its business and industry base underpinned by its highly skilled workforce. Economic and productivity growth is focused on 8 key sectors: Financial & Business Services Digital Technology Engineering, Design and Advanced Manufacturing Health and Life Sciences Creative Industries Circular Economy Tourism and Events Higher & Further Education 16 17

20 RETAIL PROSPECTUS C O N N E C T E D C I T Y Glasgow is wonderfully connected - making it easy to do business in the UK, Europe & beyond. AIR Glasgow Airport is Scotland s principal long-haul airport as well as the charter flight hub. Located approximately 9 miles (14.5km) west of the city centre, you can fly direct to North America, Europe, Asia and the Middle East. Recent investment has added new routes and improved facilities while there are further plans for infrastructure investment. ROAD Scotland s trunk road and motorway network connects its cities, towns, airports and ports enabling the movement of people, goods and services. The roads are well maintained and, in general, the traffic density is lighter than other parts of the UK. Glasgow is served by four motorway systems which efficiently link the Glasgow city region and beyond. RAIL Glasgow is served by two main railway stations, Central Station and Queen Street Station, and has the largest suburban rail network outside of London. Regular connections to London and major English and Scottish cities makes travel throughout the UK simple. Glasgow city centre is also served by a subway and low level train system which links the city to outlying residential areas. LOCAL TRANSPORT NETWORKS Glasgow is an easy city to find your way around. Built on a grid system, it is compact to navigate, either on foot or by public transport.

21 INVEST GLASGOW PLANE 150+ destinations worldwide Direct flights to North America, Europe, Asia and the Middle East 200+ flights daily 9.7 million passengers annually New routes include Brussels, Düsseldorf, Frankfurt and Krakow Most European destinations are within a 2 hour flight One hour flying time and 324 flights per week to London Glasgow Prestwick Airport and Edinburgh International Airport are both within 1 hour from Glasgow city centre RAIL Central Station 29 million passengers per year and the main commuter hub Queen Street Station ( 861) million improvement programme 23 trains per day direct to London 8 trains per hour to Edinburgh (Quickest travel times) SUBWAY 300 ( 345) million refurbishment 15 stations Runs every 4 mins at peak times 13 million passengers annually BUS Buchanan Bus Station is undergoing a 580,000 ( 665,00) refurbishment 16 million passengers per year 170 bus services in and out of Glasgow CAR Average journey times: Edinburgh Manchester Birmingham London 1 hours 5 mins 3 hours 30 mins 4 hours 30 mins 7 hours 20 mins London Manchester Edinburgh 4 hours 30 mins 3 hours 30 mins 50 mins 18 19

22 RETAIL PROSPECTUS AWARD-WINNING CITY TOP LARGE EUROPEAN CITY OF THE FUTURE AWARDS 2018/19 Glasgow has achieved an outstanding set of results in the prestigious fdi Intelligence European Cities of the Future Awards 2018/19. In the Large Cities categories, Glasgow was awarded: Top 10 overall Large City; Runner-up for fdi strategy; and Top 10 for Business Friendliness and Connectivity. TOP TEN GLOBAL CITY OF THE FUTURE AWARDS 2018/19 The city has also been ranked as a Top Ten Large Global City overall in 2018/19 by fdi Intelligence. As a further endorsement of the city s appeal, Glasgow ranked 3rd for Business Friendliness, 4th for Human Capital and Lifestyle, and 6th for Connectivity. GLOBAL CITIES OF THE FUTURE ONE OF THE WORLD S BEST PERFORMING FINANCIAL CENTRES The Global Financial Centres Index (Sep 2018) has ranked Glasgow in the Top 50 of the world s best performing financial centres (out of 100) and in the Top 15 of Western Europe s best performing financial centres. Glasgow has the third most important financial centre in the UK and has its own dedicated International Financial Services District.

23 INVEST GLASGOW ONE OF THE WORLD S TOP SPORTING CITIES AND NO 1 CITY FOR SPORT LEGACY Glasgow has maintained its place as one of the world s top five Ultimate Sports Cities of 2018 as London was named at the top of SportBusiness International s global ranking. Glasgow won the award for the world s Best Small City for hosting sporting events, while joining with New York, Melbourne and Auckland, as contenders for the overall prize. WORLD S TOP INDOOR ARENA SSE HYDRO The SSE Hydro is ranked first in the global Billboard Chart Top 10 Venues Index (Mid- Sized Venues) ahead of Hallenstadion in Zurich, the Mercedes-Benz Arena in Berlin and Brisbane Entertainment Centre, Australia as well as fourth in Pollstar s Top 100 global arenas list for worldwide ticket sales ahead of the O2 Arena in London and the Ziggo Dome in Amsterdam reinforcing its reputation as one of the top arenas in the world today. 1ST EVER CONVENTION BUREAU TO RECEIVE A GREEN TOURISM AWARD Green Tourism, the world s largest certification programme of its kind, assesses businesses on their green credentials with Glasgow Convention Bureau awarded a Silver grading for demonstrating a progressive approach and commitment to sustainability the first convention bureau to receive such an award. TOP UK CITY FOR RETAIL OUTSIDE LONDON Glasgow is one of the UK s largest and most successful shopping locations, after London s West End, it is the first UK city for retail by comparison spend (tourists, workers and residents) (HDH 2017). TRIPADVISOR TOP 10 CITY IN THE WORLD Glasgow was recently rated as one of the top 10 cities in the world for the percentage of restaurants, hotels and attractions in possession of a TripAdvisor Certificate of Excellence awarded for consistently high levels of customer service and strong online reviews. UK S BEST CONVENTION BUREAU 12 YEARS RUNNING The Glasgow Convention Bureau at Glasgow Life was named the UK s Best Convention Bureau for a record 12th time in At the influential Meetings & Incentive Travel (M&IT) Awards, held in London, Glasgow beat off strong competition from across the UK to become the first organisation to collect the top prize on 12 occasions and over consecutive years. 7TH IN THE WORLD FOR SUSTAINABLE BUSINESS TOURISM Now ranking number 7 in the world, Glasgow has been recognised as one of the world s leading cities for sustainable business tourism by the Global Destination Sustainability Index

24 INTERESTED? FIND OUT MORE Top companies choose Glasgow for many reasons; because of the quality and loyalty of the flexible and qualified workforce, the cosmopolitan feel of a large city, great access and one of the most sophisticated and competitive telecommunications environments in Europe. Glasgow offers excellent, competitively-priced leisure and retail spaces to suit every type and size of business and exciting development opportunities too. Invest Glasgow offers comprehensive business support and guidance, providing one point of contact to all businesses, property investors and developers seeking to invest in the city. All of this contributes to why Glasgow was recently named one of Europe s top ten cities for business friendliness and human resources and fdi Magazine s runner up in the Top Large European City for Business Friendliness come and see for yourself. To find out how Invest Glasgow can support you, contact: invest@glasgow.gov.uk Invest Glasgow +44 (0)