Work is starting on the first phase of development at Ravenscraig Enterprise Park to create new commercial premises which will support local jobs and economic growth.
The six-acre site will eventually be transformed into 62,000 square feet of mixed-use space, suitable for business, industrial and storage use.
The council successfully bid for £4.447million for this first phase, comprising £3.05m from Glasgow City Region City Deal and £1.397m from the Scottish Government’s Vacant and Derelict Land Fund.
The investment, which aims to address a lack of available modern, high-quality commercial and industrial premises, will be delivered through Fusion Assets Ltd, the council’s property development and regeneration company.
Contractor Luddons will start construction this month on the first phase, with the work expected to be complete by November.
An additional £8.2 million awarded by Glasgow City Region City Deal will be used to develop more commercial premises on a second phase at Ravenscraig and a 3.6-acre site at Westfield Point in Cumbernauld.
Councillor Alex McVey, Convener of Enterprise, said: “This funding is a major boost for North Lanarkshire and will help us unlock the potential of two key sites, creating high-quality space for businesses to grow and thrive.
“There is an urgent demand for modern, high-quality commercial and industrial spaces for existing and new businesses across the Glasgow City Region. These two sites in North Lanarkshire will help attract more companies to the area, bringing vacant and derelict sites back into use and creating jobs and supporting the local economy.”
Murray Collins, Managing Director of Fusion Assets, added: “We are grateful to North Lanarkshire Council for their continued support and look forward to delivering much needed modern energy efficient commercial facilities to the local area, bringing with it new jobs and investment.”