A £300M masterplan to redevelop 650-acre business park Eurocentral has been approved by North Lanarkshire Council. Eurocentral is one of Scotland’s largest business parks and the masterplan will see the creation of a new mixed-use 140,500sq m development, strategically-located just off the M8 motorway, including offices, a hotel, industrial and warehousing space.
Up to 4,000 office and administrative jobs alone could be created by the new development plan, which changes the original industrial outline planning consent of 1992, to a mix of uses, combining almost 46,500sq m of high quality office space with 93,000sq m of warehousing and industrial space.
Mark Shaw, director of Tritax Assets, which represents the site owner, comments: “This consent signals a new era of revitalisation for the whole area, which will result in a greater diversity of jobs and a vibrant community through a wide mix of uses. This will be a highly desirable place in which to work with excellent transport links via the M8 motorway.”
The masterplan represents a major step forward in the bid to revitalise the area which is located in the heart of Lanarkshire’s ‘Golden Triangle’, between the M74 and M8. Extending over 650 acres, Eurocentral has its own dedicated junction with the A8/M8 motorway as well as Scotland’s first Eurofreight rail terminal.
Virginia Beckett, of CB Richard Ellis, says: “Masterplanning consent is the next significant phase of the evolution of Eurocentral. It is designed to provide the framework for a mixed development of the area – combining high quality motorway fronting offices with hotel and distribution facilities.”
Highly competitive deals for prospective Eurocentral occupiers are available through ‘Golden Contracts’, available at all former Enterprise Zones, which protect the 100% first year capital allowances.
The owner of the site is represented by Ryden and CB Richard Ellis.