96 St Vincent Street

The international real estate advisor says the arrival of new occupiers — with Trailfinders as the latest — is transforming the streetscape in the area with extensive building renovation across Glasgow’s famous Victorian architecture that lays claim to the make-up of St Vincent Street.

Trailfinders is one of seven new store openings to be agreed in 24 months with others including:

• F&B operator Fat Hippo opening its first standalone Scottish restaurant at number 86 in September 2022.
• Mowgli Street Food opening at number 78 in March 2022.
• Bread Meats Bread, a St Vincent Street staple, upsizing considerable to number 65.
• An American diner concept opening imminently at 100-104, backed by local restaurateur Lawrence McManus.
• A steak house concept at number 80 backed by local entrepreneur Marco Lazzuri, set to open in summer 2023.
• Expanding Vietnamese operator Pho acquiring 25 Renfield Street, corner of St Vincent Street, due to open summer 2023.

The activity, which totals 23,267 sq ft, has seen prime restaurant rents bounce back to £40 per sq ft.

John Menzies, retail director in Savills Scotland, said: “St Vincent Street, a well-known street in the heart of Glasgow city centre, was a stark reminder of the Covid-19 impact as a once thriving street quickly became blighted with empty shops, deteriorating buildings and under investment.

“Fast forward two years and the picture could not be more different, with a plethora of new and pending openings remarkably driving the vacancy rate to 0%.

“No street in Scotland has seen such a sharp change in fortunes, and it is a fantastic example of a small part of Glasgow contributing to the recovery story, which remains ongoing in the face of the cost of living crisis.”

Savills sold the vacant freehold premises at 96 St Vincent Street on behalf of the landlord to Trailfinders for owner occupation in 2022. Since the sale Trailfinders has carried out significant improvement works internally and externally.