North Lanarkshire's strong industrial profile and sizeable property market has seen the region attract more international investment than any other local authority in Scotland over the last two years.
According to the council, since 2021, eleven property transactions have been completed to the value of £101.7million. The deals have seen more than 1,135,036 sq feet of industrial space sold, with Motherwell, Coatbridge and Cumbernauld providing the most attractive investment locations.
Premises ranged in size from 20,253 sq ft to 332,382 sq ft with sales values spanning £3.3m to £27.7million.
Both the number of people working in international businesses and the turnover in these companies in North Lanarkshire saw increases between 2020 and 2022: employment rose from 20,470 to 21,170, while turnover increased from £ 3.9 billion to £ 4.4 billion.
Councillor Louise Roarty, Depute Leader of the council, said: "These deals underpin North Lanarkshire's position as an attractive location for business and property investors on the global stage and demonstrate confidence in the area's economic profile and ambitions."
A key investment in the region came from Eurostampa, an international premium label manufacturing company, which recently announced plans to open a new state-of-the-art facility in Westfield, Cumbernauld.
The Italian-owned firm – previously known as Gilmour & Dean – is expanding its business in Scotland and relocating from Glasgow, almost doubling its previous factory space, creating 90 new full-time equivalent jobs and safeguarding 12 more.
Eurostampa purchased the 82,722 sq ft site at 3 Hunt Hill in Cumbernauld in October last year for £3.3m from SSE PLC.
The site sits on 10.41 acres near the M80 and M73 directly linking to the M8, M74 and the wider Scottish/UK motorway network.
The move will enable Eurostampa to increase capacity to meet market demand, as well as significantly reducing its carbon emissions.
The Eurostampa investment was announced on the back of Scottish Development International (SDI) statistics which showed that more than 8,500 planned real living wage jobs were generated through inward investment across Scotland in 2022-23.
Other investors in North Lanarkshire's economy span from across the globe including Bahrain, Germany, Canada, the US, Hong Kong and Guernsey.
Councillor Roarty continued: "Eurostampa's move is an exciting development for Cumbernauld and North Lanarkshire, bringing new jobs, investment and supply chain opportunities to the area.
"Around £234 million of private investment was made here in the last three years, with more than £100million coming from overseas investment in the last two years. The fact that more overseas investment comes to North Lanarkshire is no surprise as the local conditions are enormously attractive with location, transport networks, workforce capabilities and innovation ranking highly.
"This clearly demonstrates that North Lanarkshire is the place to invest. The council is working to maximise every opportunity to create more jobs, grow the economy and foster inclusive growth."
Eurostampa's multi-million-pound investment in the new factory has been supported by a £2.5m grant from Scottish Enterprise.
Steven Thompson, Chairman of Eurostampa UK, said: "Eurostampa is making the single biggest investment in the company's history here in Scotland and this underlines our commitment as a strategic supplier to the Scotch whisky industry.
"As a family business, investment is core to our strategy and we are delighted with the grant from Scottish Enterprise but also with the support that they have given throughout the project.
"As well as providing us with the capacity to meet our increasing customer demand our new facility in North Lanarkshire will provide us with the opportunity increase efficiency through an optimised manufacturing process that will put us well on track to achieving our sustainability targets."
North Lanarkshire Council offers a range of support to local businesses, including funding, employability, training, help to find accommodation, and skills development.
Gillian Shields of architects ConveryPrentyShields, said: "We are delighted to be providing architectural services on this exciting multi-million-pound project at Cumbernauld.
"This state-of-the-art printing facility, currently under construction by Heron Bros Ltd, will significantly increase Eurostampa's capability to produce labels for the wine, spirits, champagne, food and chocolate industries."
Time and date
CONSTRUCTION DIRECTORY
Latest Construction News
22/11/2024
SP Energy Networks has announced a major investment in Britain's electricity grid, selecting 19 preferred partners to deliver a £5.4bn supply chain programme. This significant initiative aims to meet increasing energy demand and facilitate future growth. The selected companies, many of which are ...
22/11/2024
Edinburgh City Council has launched a 12-week public consultation on a new strategy to revitalise Princes Street and the wider Waverley Valley. The vision aims to create a more vibrant and welcoming city centre, attracting investment, supporting businesses, and enhancing the visitor ...
22/11/2024
Ener-G Services Limited, a leading UK electrical engineering company specialising in renewables, marine, and offshore sectors, has expanded its operations in Westhill, Aberdeenshire. The company has leased Unit 6E at Kingshill Commercial Park, a 2,500 sq ft space, on a 5-year lease. This new ...
22/11/2024
A consortium of leading scientists, industry experts, and academic institutions has joined forces to accelerate Scotland's offshore wind sector. The £2.5 million project, led by the University of Edinburgh in collaboration with the University of Dundee and the Forth and Tay Offshore cluster (FTO), ...
22/11/2024
The Port of Aberdeen and Turner & Townsend were highly commended in the 'Engineering, Construction & Infrastructure Project of the Year' category at the APM Project Management Awards 2024. The award recognises excellence in project management and the positive impact on end-users. The £420 million ...
22/11/2024
South Lanarkshire Council's £10 million fire safety improvement programme has reached a significant milestone, with CCG (Scotland) completing installations in over 1,700 high-rise residences across East Kilbride and Cambuslang. The Glasgow-based construction firm has been working closely with the ...
22/11/2024
SSEN Transmission, a key player in the UK's energy transition, is set to further expand its workforce and move into a new, sustainable office space in Glasgow. The company's commitment to net zero and the increasing demand for green energy workers has led to significant growth, with the number of ...
22/11/2024
Scottish Water is investing in the upgrade of its Loch Eck clean water plant in Dunoon. The project involves replacing outdated dry well pumps with new, more reliable pumps capable of operating in both wet and dry conditions. WGM Engineering, an RSK Group company, has been tasked with carrying out ...
22/11/2024
Scottish Land & Estates has expressed serious concerns over the Scottish Government's Land Reform Bill, particularly the provisions that would allow ministers to force landowners to sell large estates in lots. Sarah-Jane Laing, the organisation's chief executive, stated that while the land-based ...
22/11/2024
Clark Contracts employees have once again shown their commitment to community engagement by volunteering at Silverburn Park in Leven. On Thursday, 21st November, 16 members of the team spent their day planting over 400 trees and carrying out other landscaping tasks. This latest volunteering effort ...