Glenrothes based CN Properties has bought a substantial part of the disused TT Electronics factory and site in Eastfield, Glenrothes, for a £2 million investment in business units.
The factory has been empty and disused since TT ceased operations some seven years ago.
CN Properties intend to create eight small units within the original building and is planning the further development of an additional 15 new build units all aimed at the small business market .
Each measuring around 1200 square feet, the units are designed to be suitable for a variety of uses including office, business,trade counter and warehousing
CN Properties has a substantial portfolio of small and medium sized business units in the Glenrothes area and recently completed the redevelopment of the Glenrothes Coachworks site in Woodside.
Mr Colin Nikolic, partner in CN Properties, said:”Given the demise of large manufacturing business in Glenrothes it is good that these buildings are being brought back to use.
“The premises are providing much needed space to allow small businesses to start up and grow at reasonable costs.”
He continued: “Our previous experience in refurbishing and subdividing disused buildings has been very successful and this development will mean we shall be in control of over 70 units mainly in the Glenrothes area.
“This development shall see an investment approaching £2 million and we have no doubt as with the others this will be a success.”
Close to the A92, Eastfield Industrial Estate has flourished, and the area is home to many long established businesses such as Shadow Blinds,the Millennium Gym,Fife Accounts,Robertson Fine Art,Furnico and others
There is continuing development at the adjacent Bankhead Business Park which includes a BP Service Station,Travelodge,restaurant and Industrial/Trade counters including the national brand Screwfix.
TT Electronics closed its BI Technologies site at Eastfield and transferred the work to a company in Northumberland because of a decline in manufacturing activity.
