Buoyant industrial and logistics demand fuels Gartcosh Industrial Park expansion
A joint venture of Fusion Assets and J. Smart & Co. is to begin construction work on an extension to the Gartcosh Industrial Park in North Lanarkshire.
The development of a further two high specification industrial units follows last year’s completion of Phase One and the news that DX Network Services, the logistics services company, has become its first tenant.
Gartcosh Industrial Park is a joint venture between Fusion Assets Ltd and J. Smart & Co. (Contractors) Plc and the two Phase Two units now being built will offer 16,000 sq ft and 24,500 ft respectively, once completed later this year.
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 & Logistics at Colliers in Glasgow, who is marketing the development, 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) PLC concluded: “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.”