Business space in highest demand in North Lanarkshire

Figures from real estate experts, CoStar, show unprecedented demand for large warehouse and factory units in particular, up to June 2018.

Between January 2014 and June 2018, over two million square feet of industrial space of 50,000 sq ft and over was sold or let in North Lanarkshire.

Property sales totalled in excess of £24 million.

New industrial occupiers in North Lanarkshire include Langdon’s Ltd, Kast Retail Ltd, CCG Scotland Ltd, William Grant & Sons Ltd, Gregory Distribution Ltd, John G Russell (Transport) Ltd, Brew Dog plc, Parcelpoint Ltd, GRS Global Ltd, GRS Gadgets Ltd, Amazon, HSS Hire, DHL, Hermes Parcelnet, LIDL, GIST, DPD and Wincanton.

“We already know that North Lanarkshire has an ideal position at the heart of Scotland for businesses to locate, with excellent transport links, a strong workforce and attractive prices,” said Councillor Allan Graham, Convener of the Enterprise and Housing Committee.

“This latest data shows that businesses also recognise the benefits of locating in North Lanarkshire and are actively looking for premises here. It is also further proof of the strength of our local economy.

“Figures from Lanarkshire Joint Valuation Board also show the vacancy rate for industrial property reducing over the last two years to only 8.6 per cent. This shows that the most of the property available is being bought or let quickly.

“The council and developers are taking action to ensure we continue to meet this increasing demand for property, making sure we have suitable property for companies of all sizes and different business sectors.”

Information from Clydeplan, Glasgow and the Clyde Valley Strategic Development Planning Authority, in 2016/17, shows that 48.68 per cent of marketable land supply across this area is located in North Lanarkshire. Clydeplan takes in East Dunbartonshire, East Renfrewshire, Glasgow City, Inverclyde, Renfrewshire, South Lanarkshire, West Dunbartonshire and North Lanarkshire.

At March last year, North Lanarkshire had 741 hectares of land earmarked for industrial use, including 351 hectares classed as marketable land, which can be developed within the next five years.

In the last four years, Fusion Assets Ltd, a company set up by the council to encourage economic development in the area, has developed 110,000 sq ft of industrial space at three sites in Coatbridge, Bellshill and Newhouse. These are currently let to a range of businesses including start-ups, local companies and businesses which have relocated to North Lanarkshire. Fusion has plans for a further 360,000 sq ft of industrial space to be created.

The council has built 24 industrial starter units in Wishaw and two business centres in Airdrie and Motherwell, which provide a range of office units. Plans are in place for more industrial starter units in the Motherwell area in future.

Stothers (M&E) Ltd provide mechanical and electrical building services and contract maintenance across the UK and Ireland. The company, with a turnover £20m, employs 70 staff and supports a supply chain in excess of 1,000 approved suppliers and sub-contractors.

It relocated from Glasgow to Strathclyde Business Park in Bellshill recently.

Finance Director David Conlon explains the reasons for their move: “We decided to relocate to this primely sited, modern office space, giving us instant access to the excellent transport infrastructure.

“We have no doubt that this alone will afford us significant competitive advantage in enabling the Company to increase its service provision to our diverse client base and further allow us to develop the business, ensuring that we remain at the forefront of provision of building services in our industry.”