A biaxial non-crimped fabric, 400 ± 10 g/m2, +45 /-45 lay-up protocol, was made from a unidirectional tape comprised of a 60/40 wt% carded blend of virgin waste carbon fibres, 60 mm chopped length, and polyester resin fibres, 60 mm staple length. The non-crimped fabric was used as a thermoplastic prepreg to produce laminated composite panels. The prepreg exhibited a high degree of drapeability. The physical and mechanical properties of composite samples were determined; the density, void contents, tensile and flexural strengths and moduli were found to be 1.5 g/cm3, 10%, 180.7 MPa, 260.5 MPa, 34.2 GPa and 30.4 GPa, respectively. Modification of the consolidation process and the use of finer polyester fibres should decrease the void content. It was concluded that waste carbon fibres can be converted into flexible/drapeable dry prepreg materials, potentially useful for the manufacturing of thermoplastic composite products by hot press compaction.