What started as a 3acre brownfield site at the edge of Coatbridge became a regeneration milestone. Through a joint venture with Glasgow based Central Building Contractors , Fusion delivered 16 modern industrial units, creating 44,000sqft of much-needed space in a market that was short on supply.
Dundyvan was the first project in Scotland to be financed by the Scottish Government and European Investment Bank backed SPRUCE loan fund. Crucially it was also the first in Europe to repay the loan, providing proof of concept for the new funding model and paving the way for others. Fully let and sold in 2017 by the joint venture company, the estate has proved very popular with a diverse range of occupiers including King Communications, BestPump Ltd and Thomas Scott Seating.
Key Points:
- Brownfield site brought back into productive use
- First successful SPRUCE project in Scotland
- Public-private delivery through joint venture using innovative new financial instrument
- Fully let and sold to institutional investor
