Three new tenants

Lettings show buoyancy in industrial sector

dundyvanThree new tenants at a business park regenerated as part of a new public/private funding scheme is helping to reinforce the feelgood factor in the industrial sector, according to a property agent.

The Dundyvan Enterprise Park in Coatbridge is the country’s first development backed by the SPRUCE (Scottish Partnership for Regeneration in Urban Centres) fund.

It was set up by the Scottish Government and European Investment Bank to finance regeneration projects across Scotland outside the major cities.

The work has been carried out by a joint venture between Fusion Assets, the arm’s length regeneration company of North Lanarkshire Council, and Glasgow based construction firm CBC.

Eric Wright Water, Direct Foods and King Communications have together taken 17,000 sq ft. One other tenant has increased its occupation from 2,000 sq. ft. to approximately 5,000 sq ft.

The deals were confirmed by GVA and Ryden and mark the most successful year for the park since it opened in October 2013.

GVA’s industrial agent, Craig Semple, said: “The park shows the value of a public-private partnership in bringing sites like this back into use. 

“These deals also reinforce the feel-good factor throughout the Scottish industrial market. 

“Despite reports of uncertainty in wider commercial property across the country, the industrial sector has in fact enjoyed a good year and all the indicators point to this trend continuing next year.”


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