Huel has taken a 71,800 sq ft prelet at PLP’s Milton Keynes logistics park.
The meal replacement shake firm is the first tenant to sign at the 135-acre PLP MK in 2024.
Its unit is one of the 10 being delivered in phase one at PLP MK, which will total just over 1m sq ft. Units 1 to 5, which account for 920,800 sq ft, are complete with the final five units under construction and scheduled to complete later this month.
PLP MK is the first industrial and logistics business park of this scale in the UK to be carbon net zero in construction. It also claims to benefit from “the best leisure and amenities in the market”.
PLP development director Edward Jackson said: “For PLP MK to be an integral part of Huel’s ambitious growth strategy is an endorsement of the PLP MK’s uncompromised specification, design, working environment and ESG credentials. We look forward to seeing them flourish.”
PLP, which develops, manages and owns UK logistics real estate, is itself owned by Ivanhoé Cambridge, Macquarie Asset Management, Peel Group and its senior management team.
Richard Saul, Ivanhoé’s UK head of asset management, said: “This first lease reinforces our commitment to this development, and we look forward to closing more leases imminently. Growth phase, ESG-focused clients like Huel demand best-in-class space and we are delighted to work alongside PLP to deliver this.”
Kirkby Diamond advised PLP; Knight Frank represented Huel.
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