A regeneration company owned and run by North Lanarkshire Council has recorded a profit after making a loss last year.
Annual accounts show Fusion Assets made a £700,000 profit in 2024, compared to a minor loss in 2023. It benefited from a profit share following the sake of land in Newhouse as well as reduced development fees.
Recent highlights of the company’s activity include the sale of Phase 1 of Gartcosh Industrial Park, which comprised of three industrial units. The second phase is currently in progress.
It also let out a building at Link Park, Newhouse to Yunex Traffic, a move which created 72 jobs, and in October the council’s planning committee improved proposals for a major industrial development in Ravenscraig.
Future objectives include further construction in Ravenscraig, letting out another unit in Link Park, establishing a new joint venture at Condor Park, Eurocentral and securing funding for a new industrial scheme and continued development at Gartcosh Industrial Park.
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