The future of the Vauxhall factory in Luton appears to be guaranteed following Stellantis' decision to shut the plant at the end of March, putting 1,100 jobs at risk.
Property group Goodman has purchased the Vauxhall plant in Luton and plans to invest £400million to transform the site into a "high-quality commercial and industrial park".
The regeneration project represents a major private sector investment in Luton's economy following the factory's end of production in March.
The development aims to attract businesses from various sectors, including advanced logistics, manufacturing, engineering and digital infrastructure.
Do you have a story you'd like to share? Get in touch by emailingmotoring@gbnews.uk
A £400million redevelopment of the Vauxhall Luton factory aims to create new jobs
PA
Goodman told the BBC that the investment could create more than 1,700 jobs once works are completed in 2028.
The company will work with Luton Borough Council and the local community "to bring forward development proposals for a mix of employment uses".
The site has been used for manufacturing cars and vans since 1905, but finished production last Friday. It has been estimated that more than 1,000 jobs have been put at risk by the closure of the plant.
A Vauxhall Vivaro was the final vehicle to roll off the manufacturing line at 12.18pm on Friday, March 28, after 120 years of production at the site.
A spokesperson for Stellantis confirmed: "Production of the current medium van range ceased today [Friday, March 28] in Luton.
"There will now be a period of transforming and transferring machinery and process knowledge to Ellesmere Port."
Luton Borough Council had previously submitted what it described as a "serious and competitive bid" to purchase the land, although this was rejected by owner Stellantis, which also operates Citroen and Peugeot brands.
The redevelopment plans aim to offset job losses by creating new employment opportunities across multiple sectors.
Jason Harris, Goodman's commercial director, 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."
Harris acknowledged "the social and economic significance of the site" and committed to working closely with the council and community on the plans.
The property group has joined the council-led Luton Taskforce on Economic Growth, with hopes that the development will create both direct employment opportunities and indirect supply chain jobs.
James Taylor, a Labour councillor and portfolio holder for regeneration and inclusive growth at Luton Borough Council, described it as a "hugely important strategic site for our town".
LATEST DEVELOPMENTS:
- Electric car drivers to benefit from 'largest ever' rollout of on-street EV chargers - 'Huge moment'
- Driving law changes gain support as motorists risk 'vision impairment' from bright LED headlights
- Donald Trump's tariffs contain major loophole for classic car owners with 'key detail in the small print'
The final Vauxhall Vivaro rolled off the production line at the Luton factory in March
STELLANTIS
"We are keen to see a mix of commercial and industrial uses at the site, create quality new jobs for local people and bring in vital investment for Luton which will help drive Luton's 2040 vision for a town where everyone can thrive," Taylor said.
The redevelopment plans are subject to planning permission. Construction work is expected to begin in 2027, with the first new businesses anticipated to open at the site in 2028.
