CUMBERNAULD’S local economy is enjoying a significant economic boost from the completion of a £20 million retail development by London & Scottish Investments, a Glasgow-based property development company, at Westfield Road which was funded by Tracey Investments Ltd.
Westfield Road retail development created 225 employment opportunities and a further 100 added during the construction phase. The anchor stores of Marks & Spencer and Aldi have added key high street brands to the area.
100% of the 90,000 square feet retail space has been let to first class retailers, these include: Matalan, Home Bargains, Food Warehouse, Pets at Home. A number of these are new retailers to Cumbernauld. The park includes 600 car parking spaces a petrol filling station and drive thru coffee outlet operated by Tim Hortons.
A recent report from Businesses in Scotland, analysing employment and business growth, published by the Scottish Government, highlighted North Lanarkshire as showing clear signs of growth.
Andrew Richardson, Development Director, London & Scottish Developments said:
“We are delighted to see this development completed and how Westfield Road has contributed to the regeneration of the local area. We have breathed new life into this former derelict quarry by transforming it into a magnificent retail park with first class occupiers. We have provided an outlet destination with a strong retail offer.
“The retail park has bought some of the country’s best loved brands to Cumbernauld, created valuable new jobs and provided a community focus. We have also been able to assist retailers to gain their first foothold in the area, who are still expanding in an otherwise tough retail environment.”
Tracey Investments Ltd, through IH Property Asset Management Ltd, has developed a further 9,000 sq ft to complement the existing offer at the Park, with confirmed tenants including Greggs, Lux Dental, Indigo Sun and German Doner Kebab.