The dynamic world of fashion real estate has witnessed another noteworthy transaction. Praxis, an energetic real estate investor, has successfully finalized the sale of Uniqlo’s prominent flagship store located on Glasgow’s bustling Argyle Street.
The property has been acquired by French SCPI, Remake, for a substantial sum of £9m. Previously, this stylish retail space was under a ten-year lease to the globally recognized fashion retailer, Uniqlo.
This sale follows the grand opening of Uniqlo’s Argyle Street store in October, which marked a significant milestone for the brand as its second location in Scotland.
Praxis initially acquired this retail unit as a part of its strategic purchase of Glasgow’s vibrant St Enoch shopping centre earlier in May.
Ilan Goldman, a director at Praxis, shared insights on their successful trajectory: “This sale marks an exciting progression in our business strategy at St Enoch, where we have completed 60,000 sq ft of retail and leisure agreements since our acquisition, with another 16,000 sq ft currently with solicitors.”
“We have seen a 13% increase in foot traffic this year, and we anticipate further growth with additional store openings set for 2026.”
