Forming a new joint venture, Gartcosh Estates LLP, the team will build three new speculative industrial units totalling 60,000 sq ft at the site.
Construction of the first 18,000 sq ft unit got underway in May and the remaining two units will follow on in the second phase.
-- Advertisement --
Fusion Assets have spent the last two years undertaking a programme of enabling works at site, having purchased it from Scottish Enterprise in 2015. Works included construction of a new access road and ground consolidation.
Further plans have also been drawn up for future phases of development, totalling some 160,000 sq ft.
Murray Collins, Managing Director of Fusion Assets, said: "There is currently strong demand for industrial premises across 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."
(LM)
