Selfridges Toyo Ito Glasgow store taken off life support
February 25 2013
Selfridges had been holding onto the land and had hoped to turn the site into a £3m car park for the ‘medium term’, but these hopes were dashed when Glasgow City Council refused to grant approval.
According to the Sunday Herald Selfridges will now cut their losses and run by selling the plot for just £5m - well below the £15m it stumped up for the land back in 2007 just before the financial crisis struck.
Frogmore are said to be eyeing up a mixed use scheme comprising flats, a four-star hotel and shopping units on the rundown three-acre block – if the deal is completed as expected over the next few weeks.
Back to February 2013
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