A planned development at Gartcosh Industrial Park has moved a step closer with the announcement that a new joint venture company has been created. The JV will see Fusion Assets and J. Smart & Co Contractors team together to deliver the first phase of the development.

The exciting project, situated at J2a on the M73, will see the creation of three new speculative industrial units totalling 60,000 sq ft. Construction of the first 18,000 sq ft unit is now underway with the remaining two units to follow on as a second phase.

Fusion Assets purchased the land from Scottish Enterprise in 2015 – and both of these are set to speak about this and many other major developments in the region at the Glasgow Development Plans Conference next month. Murray Collins, Managing Director of Fusion Assets who’ll be speaking at our conference said: ”There is currently strong demand for industrial premises cross North Lanarkshire coupled with a lack of modern premises. Following the Scottish Government’s introduction of the new business growth accelerator rates scheme, we felt the time was right to push the button and press ahead with the first speculative unit. The intention is that this will kick start the redevelopment of the rest of the site and I look forward to Gartcosh fulfilling its potential as a strategic business and employment location.”

The work involved in preparing the site included a new access road and ground consolidation – which was funded by the Scottish Government’s Vacant and Derelict Land Fund – and further phases of development totalling some 160,000 sq ft have also been planned.

David Smart, Chairman and Joint Managing Director of J. Smart & Co Contractors, said: ”We’re pleased to be involved in this project with Fusion Assets and look forward to delivering a modern, flexible industrial unit with the specification and build quality that we are well known for.”

The site formerly housed the Gartcosh Steelworks which closed in 1985. Initial remediation works on the 50-hectare site were undertaken 15-20 years ago by Scottish Enterprise and North Lanarkshire Council. The area houses the prestigious Scottish Crime Campus and connectivity to the site is boosted from the park train station serving the business interchange.

We’re excited to hear more about the project and others in the pipeline from Fusion Assets and more at the Glasgow Development Plans Conference.