The firm behind the development, Fusion Assets, was established by North Lanarkshire Council to promote regeneration and encourage economic development in the region.

This latest planning application at Ravenscraig proposes a variety of flexible industrial buildings for local businesses, with three single-occupied buildings for larger businesses, and a fourth building which would be divided into seven units for smaller operations, totalling 62,000 sq ft. The units would be suitable for classes 4, 5 & 6 use, covering office space, industrial activity, distribution and storage.

Located opposite the Ravenscraig Regional Sports Facility, the Fusion Assets site covers seven acres and is part of SevenFourEight, a new production and logistics location at the heart of Ravenscraig. Following Ravenscraig Limited’s land sale to Fusion Assets last year, enabling works have already been completed thanks to funding from the Scottish Government’s vacant and derelict land programme, including earthworks and platforming to level the site, along with drainage infrastructure.

SevenFourEight is part of the approved Ravenscraig regeneration area, allocated for employment uses. Ravenscraig Limited completed the £4.5m new spine road last year which provides access to serviced plots for business and industrial space totalling 1 million sq ft.

Russell Wilkie, director at Ravenscraig Limited, said: “Ravenscraig is one of Europe’s largest regeneration and community creation initiatives, building a self-sufficient community with high quality housing, transport links, education and employment opportunities.

“As part of the masterplan, SevenFourEight is Ravenscraig’s employment area and will soon become Scotland’s best connected industrial space, ideally located between Scotland’s two main motorways, the M74 and M8.

“With the prep work already complete, this planning application takes Fusion Assets closer to becoming the first developer onsite, delivering new facilities and opportunities to local businesses in North Lanarkshire.”

Murray Collins, MD of Fusion Assets, added: “Fusion Assets is committed to breathing new life into North Lanarkshire, transforming neighbourhoods to encourage investment and growth.

“Ravenscraig is a historic site and a future economic powerhouse, and our plans align the company’s development activities with the strategic regeneration priorities of North Lanarkshire Council.

“In response to high demand for modern premises and very limited supply, the new development will provide a range of flexible space for businesses, bringing jobs and opportunities to Ravenscraig and North Lanarkshire.”