Fusion Assets Limited is poised to develop Western Campus, Strathclyde Business Park near Bellshill, following the successful completion of advanced infrastructure works, including the construction of an access road and site services. The arm’s length property development and regeneration company of North Lanarkshire Council acquired the 3.6 acre site from Strathclyde Business Park (Developments) Limited in October 2012, with an option over a further five acres.
The company is now seeking a joint venture partner to undertake the first phase of development at Western Campus, situated to the rear of Strathclyde Business Park, following the appointment of Colliers International as property marketing agents.
Murray Collins of Fusion Assets said: “We have made significant progress in making our vision for Western Campus a reality. With the master plan in place, planning permission for phase one secured and the site now ready for development, we are committed to identifying a partner with the right credentials to help us take this project forward.”
Detailed planning approval has been obtained for phase one, which consists of 43,000 sq ft of new build Class 4, 5 and 6 business and industrial floor space. The current proposed site layout identifies three main industrial units forming a terrace-style development. Within each of the three blocks, individual units can be combined or subdivided to offer a flexible range of accommodation for both sale and lease.
Iain Davidson, Director of Industrial & Logistics at Colliers International in Glasgow, said: “Strathclyde Business Park is the premier commercial business location within the West of Scotland and provides excellent access to the M8 and M74 motorways. Western Campus represents an excellent opportunity for developers to tap into a strategically important area, with a joint venture partner that has a clear commitment to making this area of North Lanarkshire a success.”
Fusion Assets was established in 2006 following the closure of the Boots manufacturing plant in Airdrie. Originally a joint venture between Scottish Enterprise and North Lanarkshire Council, the company is now a wholly owned subsidiary of North Lanarkshire Council.
Fusion Assets works with private sector partners through establishing joint ventures to deliver property development and land reclamation initiatives. While the company can operate across any sector within North Lanarkshire, its current focus is on industrial and commercial schemes.
The company already has a long-standing joint venture for the construction of 65,000 sq ft of commercial development at Drumpellier Business Park in Coatbridge, where site preparation works have been undertaken. Also in Coatbridge, Fusion Assets has entered into a joint venture to develop Dundyvan Enterprise Park. This is the first project in Scotland to be part financed through SPRUCE - the Scottish Government and European Investment Bank backed JESSICA loan fund, with construction of the 44,000 sq ft industrial scheme due to be completed by September 2013.