Sale of 92 acre industrial site for regeneration in Luton
ILP Partners have recently completed the sale of the 92-acre Vauxhall manufacturing plant in Luton. Acting for Stellantis ILP Partners sold the 1.7m sq ft complex to international developers Goodman Developments. They will regenerate the site by investing over £400 million and working closeley with Luton Council redevelop a 1.5 million sq.ft scheme which will create, it is envisaged ,1700 jobs in a variety of sectors.
Jason Harris, Commercial Director at Goodman, said: “Our vision is to deliver a transformational regeneration scheme. This will attract new businesses to Luton and create a mix of jobs from a range of sectors. We recognise the social and economic significance of the site to Luton and will work closely with Luton Council and the local community as we bring forward our plans to deliver a major contribution to the long-term economic growth of the town.”
Richard Ludlow, Partner at ILP Partners, said “it is never good to see large manufacturing facilities closing down, but the best outcome is that they are redeveloped as soon as possible, creating renewed economic activity and jobs.”
Jason Harris, Commercial Director at Goodman, said: “Our vision is to deliver a transformational regeneration scheme. This will attract new businesses to Luton and create a mix of jobs from a range of sectors. We recognise the social and economic significance of the site to Luton and will work closely with Luton Council and the local community as we bring forward our plans to deliver a major contribution to the long-term economic growth of the town.”
Richard Ludlow, Partner at ILP Partners, said “it is never good to see large manufacturing facilities closing down, but the best outcome is that they are redeveloped as soon as possible, creating renewed economic activity and jobs.”
