Nike to sell Scottish flagship store on Buchanan Street midway through massive refurbishment works

In a shock twist of affairs international sportswear brand Nike are set to sell their flagship store midway through their refurbishment project.

Despite Nike being contacted as a tenant for the next ten years (until 2034) and being in the middle of a massive refurbishment project which would have seen the shop become a high-tech retail concept - the likes of which are currently only seen in Manchester, London, and Birmingham.

The shop would have became ‘Nike Rise’ concept store which would have allowed consumers to see real-time usage and purchase data through digital wallpapers and interactive touch screen. For example, shoppers could have checked how many people bought a specific product in the last month, and how many are using that product at that moment.

Wall-sized displays would have shown local and international Nike product trends as well as sports data in real-time.

The property has Nike contracted as tenant until 2034, with the sports giant currently undertaking a major refurbishment of the store, which is expected to reopen next month.

If successfully sold, the Nike store will have left behind a 13 year legacy, opening their 2,500 square metre store on Buchanan Street back in 2011.

Lambert Smith Hampton, the marketing agent behind the property, said: “The subjects occupy the basement, ground, first and second floors within a traditional seven storey red sandstone building which was redeveloped by BAM in 2006. The tenant is currently undertaking a substantial refit of the store.

“Retailers in the immediate vicinity include Zara, Mango, Ted Baker, Hugo Boss, Michel Kors, Levis and Molton Brown. To the north lies Buchanan Galleries, and both Central Station and Queen Street Stations are within a five minute walk. St Enoch Centre lies a short distance to the south.

“The property benefits from a prime location on Buchanan Street, the main shopping thoroughfare in the city centre. Glasgow City Council have produced plans for their visions and revitalisation of the city’s retail ‘Golden Z’ which will further invigorate Buchanan Street’s connection with Sauchiehall and Argyle Street which lie to the north and south of Buchanan Street respectively.”

The Nike store on Buchanan Street is available for offers over £12.5m.