Acting on behalf of owner-investor, Scottish Widows Investment Partnership, we have secured the largest letting to occur in Luton during the last 18 months.
The 61,400 sq ft unit, Cargo 10 on Airport Way at Luton Airport will be occupied by 2k Manufacturing on a 15 year lease at a rent of £6.00 per sq ft.
Pioneering recycling plant to create jobs
2K Manufacturing, will create the world’s first facility that can recycle mixed-plastics waste back into EcoSheet, a plywood substitute board. EcoSheet, which is intended for the construction industry, is the world’s first environmentally-friendly plywood substitute and is a multi-award winning product. This pioneering recycling plant will create 60 new jobs for the area.
Production facility is first of 11 planned UK sites
The production facility will be capable of adapting almost 25,000 tonnes of waste plastic into EcoSheet which would otherwise go to landfill. Currently, over 25 million plywood sheets are used a year which are not recyclable. The Luton plant is the first of 11 planned sites in the UK which will enable the production of up to four million pieces of Ecosheet each year.
Lloyd Spencer, Director in our Luton office, comments: “I am delighted to have completed such a large letting in this difficult market. To add to this it is incredibly pleasing to see Cargo 10 being put to such good use as a recycling facility for a revolutionary product.”