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PLP brings Huel to the table with first leasing at PLP MK

PLP brings Huel to the table with first leasing at PLP MK

PLP have kicked off the leasing of its carbon net zero logistics park in Milton Keynes (“PLP MK”) with a 71,000 sq ft pre-let to Huel, the market-leading food brand.

The state-of-the-art unit is currently under construction, being built to the highest specification and with energy saving technology. When it completes in December 2023, the unit will provide Huel with a new manufacturing and distribution facility to serve their growing customer base across the UK and Europe.

The 71,000 sq ft unit is one of 10 units being delivered within Phase 1 at PLP MK, totalling 1.06 million sq ft. Units 1 to 4, totalling 849,000 sq ft, are now complete with the final 6 units currently under construction with TanRo and will all be delivered by January 2024.

PLP MK is the first industrial and logistics business park in the UK to be carbon net zero in construction and benefits from arguably the best leisure and amenities in the market. The business park environment and proximity to Milton Keynes City provides customers with an outstanding working environment.

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 commented: “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 said: “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.

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BDC 319 : Aug 2024