It’s nearly five years since the company was reactivated and we thought it was time to tell people what we have achieved and our future investment plans for North Lanarkshire. Our purpose is to promote regeneration and encourage economic development in North Lanarkshire through physical development projects.
Fusion Assets was originally established following the closure of Boots’ plant in Airdrie and now operates as an arm’s length Property Development and Regeneration Company of North Lanarkshire Council. To date Fusion Assets has invested £2.2m of its own capital resources in regenerating nine sites across North Lanarkshire. Crucially, we seek to add value through working in partnership with the private sector and attracting external grant funding and investment into the area to support the Council’s wider regeneration and economic development aims.
Our entrepreneurial approach to working in new and innovative ways, has secured £5.25m into North Lanarkshire through private sector investment and loan finance. Fusion Assets’ success in attracting development funding means we have levered an additional £7.4m investment through external grants and loans. By combining the skills and experience of both the public and private sectors, Fusion Assets became the first organisation in Scotland to secure investment from SPRUCE – a £50m urban regeneration loan fund set up by the Scottish Government and European Investment Bank.
Our aim is to create long term investment opportunities that will create income, which we can reinvest in to other regeneration and economic development projects in the North Lanarkshire area. Key to our approach and important in the current economic climate, is ensuring that we operate in a financially sustainable way and demonstrate value for money in all that we seek to do.