A site has been secured for US based retailer Whole Foods Market to open what will be its only store outside of London, it was confirmed today.
The 23,600 sq ft food store, which is situated in Giffnock on the outskirts of Glasgow, is set to be refitted by its owners Paradigm Real Estate Managers, thanks to a refinancing deal worth £5.3 million secured with The Royal Bank of Scotland.
Whole Foods Market will move into the premises once work has been completed, expected to be November 2011, creating around 150 jobs for the local economy.
The US supermarket chain, which specialises in natural and organic products, currently has five stores based in the UK but none outside of the capital.
Formed in 1978 by John Mackey and Rene Lawson with a loan of $45,000 (£28,402), it now boast revenues of over $9 billion and more than 300 stores worldwide.
It launched in the UK in 2004, initially with seven stores but had to close properties, including a flagship outlet in Bristol, in 2008 due to poor trading.
Stuart Heslop, head of real estate Scotland, RBS Corporate & Institutional Banking, said: “We are pleased to be able to provide new funding to Paradigm to support the development of the Whole Foods Market store which will bring a new retailer to the Scottish market.
“The tailored funding package we put together drew on experience from across our business and demonstrates our ongoing support for the commercial property sector and wider economy in Scotland.
Scotland has secured a number of key wins for its retail sector so far this year, with Paperchase announcing a new flagship store in Glasgow in April and Amazon confirming plans to build a customer service centre in Edinburgh in May.
Retail sales have been consistently lower north of the border than in the rest of the UK however, and in May like-for-like trading dropped by 3.2 per cent year-on-year.