Following a decision earlier this month by North Lanarkshire Council to allocate £11.288m to Fusion Assets, the company has begun work to take forward its development schemes at Ravenscraig Enterprise Park in Motherwell and Westfield Point in Cumbernauld. The funding comes from the Glasgow City Region “Enabling and Developing Commercial Space Programme” which is a new City Deal project designed to support the delivery of modern energy efficient commercial units across the region. Both developments formed part of Fusion Assets bid and have subsequently been shortlisted for inclusion in the programme, subject to a detailed business case being approved by the Glasgow City Region Cabinet.
Ravenscraig Enterprise Park is located on the former steelworks site in Motherwell and was purchased by Fusion Assets in September 2023. Since then, Fusion Assets has carried out a programme of advanced infrastructure works to remediate and service the site to bring it up to a development ready condition. The enabling works at Ravenscraig have been undertaken with grant support from The Scottish Government through the Vacant and Derelict Land Programme for North Lanarkshire. Planning approval is in place for a 62,000 sqft multi let industrial scheme and once the current enabling works are complete, Fusion Assets will look to bring forward the first stage of development in early 2026.
Westfield Point is a 41,000 sqft multi let industrial development in Cumbernauld. The site is in a development ready condition with planning approval in place and the funding award will allow Fusion Assets to begin the first phase of construction, with a later phase of development to follow on.
