Fusion Assets is to begin construction of a 20,000 sqft speculative industrial building at Link Park, Newhouse in North Lanarkshire following an award of £1 million from the Scottish Government’s Regeneration Capital Grant Fund.

Covering 18 acres, Link Park is a major new industrial, distribution and logistics location which is being taken forward by Fusion Assets. The site occupies the last remaining undeveloped plot of land along the A775 where adjacent occupiers include WH Malcolm, Co-Operative Distribution and Brake Bros. The site is located between the existing Newhouse junction and Junction 6a which will be created as part of the upgrading works to the M8.

To date Fusion Assets have received detailed planning permission for 81,000 sqft of industrial and commercial floorspace, with the site capable of taking further phases of development.

A programme of advanced infrastructure works to create platformed and serviced development plots is in the process of being completed by Fusion Assets with funding from North Lanarkshire Council’s Vacant and Derelict Land Fund.

Murray Collins, managing director of Fusion Assets, said: “We are grateful to the Scottish Government for the financial contribution towards the first phase of development which will allow local companies to benefit from modern industrial premises and ultimately lever in a substantial number of jobs and investment into North Lanarkshire. When the M8 upgrade works are completed next year, North Lanarkshire will benefit from being one of the most accessible areas in Scotland and we aim to capitalise on its strategic location with the new development planned for Link Park at Newhouse.”

Fusion Assets is the arms length property development and regeneration company of North Lanarkshire Council which works in partnership with private sector developers. It is envisaged that future phases of development will be marketed to potential joint venture partners.