Property management company Fusion Assets has launched a new enterprise park in North Lanarkshire.

The move follows the designation of a new Life Sciences Enterprise Area based around the BioCity Campus in Newhouse.

Fusion Assets originally purchased the underdeveloped site within the adjacent Dunalastair Industrial Estate from BioCity Scotland.

It is also included within the boundary of the new Enterprise area.

The development company has undertaken a programme of land remediation and enabling infrastructure works since acquiring the site, creating a serviced development funded from the Scottish Government’s Vacant and Derelict Land Fund.

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Planning approval is already in place for the projects first stage, which consists of around 40,000 sq ft of commercial floorspace.

The Enterprise Area status also means businesses based in the Lanarkshire Enterprise Park will be able to take advantage of business rates relief, faster planning applications, skills support, broadband and assistance in accessing international markets.

Murray Collins, MD of Fusion Assets, said: "With the additional benefits that Enterprise Area status brings, we are looking to reposition our development proposals for the site to target higher value uses associated with the life sciences and biotechnology supply chain as well as manufacturing and distribution uses."

(LM)