Fusion Assets and its joint venture partner, CBC, have successfully sold Dundyvan Enterprise Park, a multi-let industrial scheme in Coatbridge. The estate was the first development undertaken by Fusion Assets and was completed in 2013. The Enterprise Park comprises 15 units totalling 40,612 sq ft, with a range of both local and national tenants including Network Rail, King Communications, Eric Wright Water and ALS Environmental. There are now some 125 people employed at Dundyvan Enterprise Park on what was previously a derelict site.
The Dundyvan scheme was the first in Scotland to be financed through the European Investment Bank and Scottish Government backed SPRUCE urban regeneration loan fund. The SRUCE loan fund has now been repaid and Fusion Assets share of the proceeds from the investment sale will now be reinvested by the company in further regeneration projects in North Lanarkshire to create additional jobs and lever in further investment to the area.
The purchasers of the scheme were clients of London based IO Asset Management. Ryden acted on behalf of Dundyvan LLP, the joint venture company between Glasgow based CBC and Fusion Assets.