AN American bookseller is to take over one of Scotland's most sought-after retail outlets and
create up to 100 jobs, raising the prospect of a book war in
Glasgow.
Borders Books, the world's
second largest book retailer, is to occupy the entire 40,000sq ft of the Grade A-listed former Royal Bank building - which has frontages in Buchanan Street and Royal Exchange Square - from November.
The building is regarded in commercial property circles as one of the UK's ''hottest property prospects''.
Borders Books' declared intention to open a books and music superstore led one commercial property expert yesterday to question whether Glasgow had the capacity for so much book-selling space.
Waterstone's, the largest specialist bookseller in the UK and Ireland, already has a 30,000sq ft shop - its biggest store - in Sauchiehall Street. Dillons and John Smith's are also major players.
Waterstone's is to vacate its Princes Square location in Glasgow at the end of this month, after claiming that it had failed to agree terms for a new lease with the landlord.
The commercial property expert said: ''Questions will undoubtedly be asked over whether Glasgow can support two bookstores of the size of Waterstone's and that proposed by Borders. They are two of the largest bookstores in the UK and are bound to put a squeeze on the smaller operators.''
However, a Borders Group spokesman said yesterday: ''We believe there is adequate space in Glasgow for another quality book store.'' Mr Richard Joseph, chairman and chief executive of the Borders Group subsidiary, Books etc Ltd, said he expected Glasgow customers to ''respond positively'' to the selection and service offered by the Borders format, which would include the sale of music CDs, videotapes, audiotapes, magazines, and a coffee shop, as well as more than 150,000 book titles.
He said: ''We are delighted to have found such a beautiful building in such a superb location. This cultured city will now have a literary haven unlike anything else available in Scotland, offering the qualities which have made
Borders a favourite destination for book and music lovers in the United States.''
Borders Books declined to comment on the financial or other aspects of the Glasgow deal.
However, Mr Bryan Duncan, of the Glasgow letting agents, Donaldsons, said a 25-year lease had been agreed for the building, which would accommodate the company's biggest books and music store in the UK. Borders Books also plans to open a store in London's Oxford Street.
He added: ''We are delighted to have concluded such a high profile letting on this trophy building.
''The retail market is particularly strong in Glasgow. The forthcoming opening of Buchanan Galleries and the new Virgin Megastore will further enhance its reputation. Rental values are set to rise, demonstrating the strength of Glasgow, and in particular Buchanan Street, as the premier retailing location in Scotland.''
About 15 different tenants are understood to have been lined up for the Royal Bank building since it was acquired last summer by the Glasgow-based Rock Developments.
Before Borders' interest, the building had been set to accommodate three or four major retail outlets - one of which included Emporio Armani. The Herald's fashion editor, John Davidson, commenting on news that Armani and other up-market outlets were now unlikely to locate in the Royal Bank building, said: ''It is a huge disappointment for Buchanan Street. A string of major designer stores right in the heart of Glasgow at the Royal Bank site would have lifted the profile of the area once again.
''A major string of designer names on that site would have
tilted the balance towards up-scale speciality shops and would have encouraged the upper stretch of the street, from Gordon Street to Sauchiehall Street, to develop along the same lines.''
From Michigan to Buchanan Street: the Brits face a new name on the block
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