‘Much-needed’ enterprise park will breathe life into former Ravenscraig steelworks site
“Bringing Ravenscraig Enterprise Park to the market is a very positive story for central Scotland” – Craig Semple, CBRE Scotland
A major new development has been brought to market at a “pivotal time” for the industrial property sector across Scotland’s Central Belt.
The multi-let scheme, totalling some 62,400 square feet and comprising eight units, will be delivered across two phases at Ravenscraig Enterprise Park. The first phase will bring forward 29,400 sq ft of industrial, business and storage accommodation on a speculative basis.
The new development has been brought to market by property adviser CBRE, on behalf of Fusion Assets.
CBRE noted that the development pipeline for Glasgow and the west of Scotland in 2026 was “extremely limited” at circa 300,000 sq ft, with most prime and well-located multi-let industrial estates reporting fully occupancy. As a result, occupiers are said to be facing significant rental uplifts at rent reviews and renewals.
The firm added: “The arrival of new space at Ravenscraig comes at a pivotal time for the industrial market across the wider Central Belt, where vacancy rates remain low and the supply of modern, high quality accommodation is constrained, leaving demand continuing to outpace availability.”
Former steelworks Ravenscraig has benefited from significant public and private investment as part of its long-term regeneration, and this latest phase will be seen as marking a further step in unlocking its full commercial potential. Positioned within the Glasgow City Region, the site offers connectivity to both the M74 and M8 motorways, providing direct access to key markets, labour pools and national transport networks.
Delivery of the first phase has been accelerated through £4.4 million of public funding from the Glasgow City Region City Deal and the Scottish Government’s Vacant and Derelict Land Fund. A further £6.8m of City Deal funding will support additional commercial development at Ravenscraig and other sites in North Lanarkshire, reinforcing the area’s role in driving regional economic growth, property experts noted.
The new scheme is being delivered by Fusion Assets - North Lanarkshire Council’s property development and regeneration company - which specialises in bringing brownfield land back into productive use and creating employment opportunities across the region.
Craig Semple, director at CBRE Scotland, said: “Bringing Ravenscraig Enterprise Park to the market is a very positive story for central Scotland. For some time, occupiers have faced a shortage of modern, high-quality accommodation, particularly for growing businesses seeking well-located space.
“This scheme not only provides much-needed supply, it also demonstrates confidence in the strength of demand across the region. With strong infrastructure, motorway connectivity and the scale to accommodate a range of uses we expect strong interest from both regional and national occupiers.
“Construction is due to commence in March, with the first units ready for occupation in Q4 2026.”
Murray Collins, managing director at Fusion Assets, added: “We are pleased to bring forward this new development at Ravenscraig Enterprise Park, building on the significant investment already made across the wider site. Our focus is on transforming brownfield land into high-quality commercial space that supports jobs and long-term economic growth in North Lanarkshire.”
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