A GLASGOW-BASED property firm has declared the city still holds significant appeal as a retail and leisure destination as it unveiled a raft of new lease deals.

Ambassador Group’s property investment offshoot has attracted two market debutants to the city under 17,000 square feet of deals it has secured through its joint venture with ICG-Longbow, the London-based asset management firm.

It revealed that the expanding Triple Two Coffee Masters chain will occupy a 1,200 sq ft unit on Stockwell Street in the Merchant City for its first outlet in Scotland.

Its arrival comes as Project Pizza commits to a second restaurant in Scotland, with the American chain agreeing terms on a 3,000 sq ft site at the Forsyth Building, on the corner of Renfield Street and Gordon Street. The chain currently has only one outlet in Scotland, in Dundee.

Ambassador, whose residential division is delivering the prestigious Park Quadrant Residences development in the city’s west end, also revealed that charity Shelter Scotland take on 8,000 sq ft for a combined office and shop at Granite House, also in the Merchant City.

Alongside the new leases, the Ambassador LB Holdings joint venture has renewed the leases of five existing tenants at Granite House. William Hill, Specsavers and Phone Logic, Newsmart and King Cut Barber have committed to extensions totalling 5,00 sq ft.

The flurry of deals may be seen as a boost to Glasgow city centre, where retailers, publicans and other businesses owners have seen trade badly affected by two fires on Sauchiehall Street in recent months.

The city centre has also been affected by wider structural change in the retail sector, with the rise of online shopping leading many big-name retailers to take steps to slim down their store estates.

Dunnes closed its department store on Sauchiehall Street in October, and long-standing retailer Watt Brothers warned it may have to close its outlet on the famous thoroughfare as it looks to pay off debts.

The leisure sector has also encountered difficult trading conditions in major UK cities, with several major high-street brands, including Jamie’s Italian, Carluccio’s, Prezzo and Byron all cutting restaurant numbers and jobs in response to the rising cost of rents and business rates. Some operators have said the cost of paying the national living wage and apprenticeship levy has affected their profitability.

Chris Richardson, investment director at Ambassador Group, said: “That we’ve secured two new operators in Glasgow underscores the strength of the city as a prime retail and leisure destination.

“The 17,000 sq ft of deals is testament to significant investment we’ve made in both Granite and Forsyth – and highlights the locational attributes of both assets.

“The right retail product in the right location continues to perform well.”

Meanwhile, Ambassador LB has embarked on a £7 million refurbishment programme across its Glasgow portfolio which it said will deliver 60,000 sq ft of Grade A office space. Its properties include the Ink Building, a 40,000 sq ft office in the International Financial Services District on Douglas Street.