PLP has pre-let a 71,000 sq ft unit to food brand Huel at its net zero carbon PLP MK logistics park in Milton Keynes.
The unit, which is currently under construction with completion expected in December this year, features a wide range of energy saving technology. It is one of 10 units being delivered within phase one at PLP MK, which will total 1.06m sq ft in size on completion.
Units one to four – totalling 849,000 sq ft – are now complete with the final six units under construction by TanRo. All of the units will be delivered by January 2024.
PLP MK was acquired in 2021 by PLP’s inaugural investment vehicle, the PLP UK Logistics Venture 1 (UKLV 1), which is owned by majority investor Ivanhoé Cambridge alongside Peel L&P, Macquarie Asset Management (MAM) and PLP senior management.
Edward Jackson, development director at PLP, said: “Delivering best-in-class buildings, and a best-in-class business environment, speculatively at PLP MK demonstrates how confident we are in our product. Huel stands out from the crowd. We are delighted to welcome them to PLP MK and we look forward to welcoming many more customers in the near future.”
Ruvan Mendis, chief operations officer of Huel added: “We are extremely excited to announce the opening of our new state-of-the-art manufacturing site in Milton Keynes in early 2024. The site developed by PLP will have some of the best sustainability credentials in the country and reinforces our commitment to minimising our impact on animals and the environment.
“This factory is a key part of our growth ambitions for the future, and over the coming months we’ll be recruiting for a wide range of manufacturing roles to operate the site, taking our overall team of Hueligans well past the 300 milestone.”
Kirkby Diamond advised PLP and Knight Frank represented Huel.
