A £1.3m investment will see four new industrial units constructed at Abbotsford Business Park, Falkirk, this year.

The units are being delivered through external funding, as well as money from Falkirk Council's Portfolio Management Plan (PMP).

The PMP is being used to expand a property portfolio for economic development in the local area, and to generate revenue from the sale of buildings to be re-invested in new sites that are more attractive to the market. For example, between 2012 and 2013 alone, the PMP delivered more than £1m in receipts from the sale of Council owned buildings.


Some of the re-investment projects include:

• A new two-storey office pavilion at Spitfire Way, Wholeflats

• An expansion of seven industrial units at Central Business Park in Larbert

• A £1m contribution to the on-going regeneration work in Denny town centre.

The current property portfolio provides accommodation for almost 500 businesses throughout the area and is currently 95% let.

Commenting on the figures, Councillor Dennis Goldie, Falkirk Council's spokesperson on Economic Development said: "Our strategy is generating significant sums of cash that allows us to reinvest in new or existing properties to offer real facilities that businesses need.

"We're always looking to attract new commercial tenants and businesses and have an expert team that can help with expansion or relocation."

(JP)