The Scottish Partnership for Regeneration in Urban Centres (SPRUCE) is a £50m funding source for regeneration projects within targeted areas of Scotland. SPRUCE has been established with finance from the Scottish Government and the European Investment Bank and is operated by a private sector fund manager – Amber Infrastructure. It is part of a wider European urban development fund known as JESSICA (Joint European Support for Sustainable Investment in City Areas).

The SPRUCE fund was launched in December 2011 and is open to a wide range of organisations including local authorities, urban regeneration companies, housing associations and private developers. The revolving loan fund is designed to encourage significant co-investment from public and private sectors to support urban renewal and employment growth, through projects which generate revenue.

Fusion Assets became the first organisation in Scotland to access SPRUCE funding for its industrial scheme at Dundyvan Enterprise Park in Coatbridge which has been developed in partnership with CBC (Glasgow) Ltd.

By accessing SPRUCE loan finance, Fusion Assets is able undertake speculative development projects which increase the level of its development activity. In turn this enables North Lanarkshire to be regenerated, supports local businesses and encourages business into the area – creating new job opportunities.

Fusion Assets has now secured a second loan offer from SPRUCE to allow the development of a further industrial scheme at Strathclyde Business Park, Bellshill. Following a competitive tender for a joint venture partner, CBC (Glasgow) have once again been selected as the development partner and a new joint venture company created – Central Assets LLP.