The £350m development plan to double the size of Glasgow’s Buchanan Galleries, creating 1,700 jobs in the process, is under threat due to separation. Today the Financial Times reports that the joint venture between Land Securities and TIAA Henderson Real Estate could potentially be scrapped due to the economic uncertainty of independence. When complete the project would house 100 shops, 25 restaurants and a multi-screen cinema.
The report also carries comments from a Scottish commercial property surveyor that investors are holding off on projects until after the referendum. Better Together said that investment in major infrastructure projects is safer and more secure by being part of an economy of 63 million people rather than just 5 million people. There have previously been reports of jobs investment in Glasgow being curtailed because of uncertainty around separation.
Councillor Gordon Matheson, the Leader of Glasgow City Council, said: "This is a glimpse of what's to come if we vote yes. This is the hard economic reality. This is a great project for Glasgow and for Scotland and is needed if we are to stay competitive. Projects like these are hard won, but can be lost overnight. I don't believe these jobs are a price worth paying to indulge the SNP's lifelong obsession with breaking up Britain.
"The uncertainties of independence risk completely undermining the progress we're making as a city. It's a risk Glasgow and Scotland simply does not need to take. We can have what the majority of Scots want - more powers for Scotland, without taking on all of the risks of independence. It's the best of both worlds. We should say No Thanks to separation on 18 September to let Glasgow flourish."