A NEW trade park in Livingston which will help businesses grow and create jobs is to receive £2.18 million in public investment.

The loan, financed from the £150m Building Scotland Fund, is being delivered through the Scottish Partnership for Regeneration of Urban Centres (Spruce) fund.

The cash will be used to develop 40,000 sq ft of industrial and trade counter accommodation at Livingston Trade Park on Houstoun Industrial Estate.

Investment Minister Ivan McKee, who announced the funding, said: “I am pleased the Building Scotland Fund has been able to support this development, which will help stimulate the local economy and bring more investment to the area.

“The £2.18m loan will deliver opportunities for businesses to create new jobs and encourage more investment to grow the local economy.”

Mike Walker, development director at Chancerygate , the industrial developer delivering the project, added: “We have an established reputation for seeking out and realising untapped potential when it comes to industrial developments.

“Our investment in creating Livingston Trade Park is a great example of this approach and it is driving our continued success and ongoing growth strategy.

“We are developing speculatively in Livingston because we are confident there will be strong demand for our units, particularly as there have been very few new build industrial property opportunities in the area for years.”

Cameron Cook, head of origination for Amber Infrastructure in Scotland, the company which manages the Spruce fund, said: “The Spruce Fund is delighted to have reached financial close on this important project, providing much-needed world-class leading industrial and logistics space into the West Lothian market.

“We look forward to working closely with Chancerygate to ensure the success of the Livingston Trade Park project over the coming years.”

The Spruce fund was set up under the European Commission’s Jessica Initiative and is based on the premise that sustainable urban development is a key factor in the long-term success of cities.