Retailer signs deal for site on £400m Lu2on schemeSep 07, 2020
by ANDREW GIBBS e: firstname.lastname@example.org
RETAILER Co-op has signed a deal to be the first anchor tenant at the new Lu2on development at the landmark mixed-use development on the former Vauxhall factory site in Luton.
Co-op will be leasing a 5,371 sq ft unit fronting Kimpton Road and Luton Airport Parkway Railway Station. The new supermarket will form part of a wider £400 million regeneration project, with a transport hub at its heart and around 880 new homes.
Santhosh Gowda, chairman of developer Strawberry Star, said: “This is the first of many household brands that will be part of Lu2on going forward. The entry of Co-op into our award-winning developments demonstrates confidence of retailers in our development and the area.
“Lu2on is not only integral to the regeneration of Luton but also will contribute to the economic growth of the town by creating a vibrant new neighbourhood. We are anticipating many local and high street businesses to be part of Lu2on.”
Phase 1 of the Lu2on development comprises 401 units with amenities and facilities including 49,600 sqft of retail space, an 8,000 sq ft gym, a 300-room hotel that will include a banqueting facility, 10,000 sq metres of gardens and a landscaped public piazza.
The first phase of the development is on track to be complete in Q4 2021.
Co-op acquisition manager Chris Barter said: “We are delighted to confirm that we will be the anchor tenant at Lu2on. The area is undergoing a transformation with airport upgrades and better connectivity and the team is really looking forward to serving the area and operating at the heart of community life.”
Luton South MP Rachel Hopkins said: “Strawberry Star have taken a considered approach to developing this brownfield site, delivering quality homes as well as retail and commercial space.”
“Strawberry Star have worked closely with the local community throughout the process. The preservation of the Vauxhall War Memorial is also testament to their support of the Vauxhall Motor heritage at the site, which forms part of Luton’s history and character.
“I look forward to seeing the positive impact that Lu2on will have on the town in the coming months.”