By Ian McConnell
WORK has begun on a major extension to an industrial park in central Scotland, with demand for industrial and logistics space fuelling what is described as an "urgent requirement for high specification buildings".
Gartcosh Industrial Park is a joint venture between Fusion Assets and J Smart & Co (Contractors).
The two second-phase units now being built will offer 16,000 sq ft and 24,500 ft respectively, once completed later this year.
This development follows last year’s completion of phase one, and news that logistics services company DX Network Services has become its first tenant.
Colliers, which is marketing the development, said: "The demand for industrial and logistics space in the Central Belt is strong, with an urgent requirement for high-specification buildings.
Iain Davidson, director of industrial and logistics at Colliers in Glasgow, said: “The construction of phase two is excellent news and, given extremely low existing supply, this will be welcomed by the occupier market.
“As businesses continue their focus on increasing capacity and driving efficiencies, speculative developments in strategically important locations, such as Gartcosh Industrial Park, will play an ever-increasing role.”
Murray Collins, managing director of Fusion Assets, added: “This latest development reaffirms our commitment to regenerate and create long-term economic opportunities across North Lanarkshire. The Park’s location is unparalleled and we are confident this area will continue to grow in the coming years.”
Jane Oliver, of J. Smart & Co. (Contractors), said: “We are looking forward to evolving our partnership with Fusion Assets by providing two more high-quality buildings in a location that offers fantastic connectivity required by modern occupiers.”
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