Invest in Plymouth
Last year, NovaLoca looked into the benefits of relocating your business to Plymouth. Whilst Plymouth may not be a major city in the UK, there are plenty of investment opportunities in Britain’s Ocean City.
This year we have revisited the area to see how the developments we featured have benefited Plymouth and also to see what new plans the city has to offer.
South Yard
When we last looked at Plymouth, a £20m project to build a Marine Industries Production Campus was underway to further Plymouth’s status as a world leading location for marine science. The 200 year old ‘South Yard’ has now been renamed Oceansgate and Plymouth City Council has appointed property agents JLL to sell South Yard as a “major global player” in the marine sector.
The council have confirmed that South Yard has already attracted more than 100 expressions of interest from marine businesses wanting to relocate there.
The History Centre
The £21million history centre was awarded nearly £13m from the Heritage Lottery Fun to support building a revitalised cultural attraction which will be based in the revamped buildings of the current museum and central library in North Hill.
The museum and library are due to close in August 2016 before being emptied of artefacts. Builders will begin a two year period of construction in 2017 creating a site three times the size. The visitor centre is set to attract 250,000-300,000 people a year.
Derry’s Redevelopment
Thames Bank Property has recently been granted planning permission for the £50m redevelopment of the former Derry’s department store in Plymouth. The scheme, based on the western edge of Plymouth, is a 300,000 sq ft mixed-use property. This will include a 500-bed student development, a 100 bed-hotel, along with 60,000 sq ft of commercial space. The project is due to start on site in early 2017 and is estimated to complete in August 2018.
Plymouth continues to attract tourists and has a great hotel occupancy rate because of this. With plenty of new developments over the recent years, enthusiasm for investment in Plymouth is high and the area is becoming one of the UK’s best business spots.
Click here to find commercial property in Plymouth!
