Plymouth’s massive freeport building splurge to create jobs

Plymouth City Council is to borrow millions of pounds to fund a GBP6.9m building splurge at the city’s tax-break freeport area. The authority is looking to borrow GBP3.344m to add to a GBP3.556m grant it has received from the Government and use the total to build industrial units at the Oceansgate site at Devonport[1]. A planning application has been submitted for a series of “innovation barns” – high spec large industrial units for use as workshops and prototyping along with project offices – which will create 49 direct jobs.

More than 1,700sq m of space within the eight planned units will expand the existing Oceansgate complex[2], which is already home to 14 light industrial units and 12 offices. The council, which had total borrowings of GBP565m in 2023, said the development will create skilled jobs and a place for Plymouth’s marine businesses to innovate and collaborate. The University of Plymouth, Plymouth Marine Laboratory and the SW Defence and Security Cluster, working with the freeport, will support product development and sea trials for companies based there.

The planning application proposes two buildings that would be similar in style, but a higher specification to the already high-spec offices and industrial units at Oceansgate, part of the freeport tax site, Oceansgate[3] has been built to reflect the historic nature of South Yard as well as the street pattern outside its boundaries with natural material such as limestone. The next phase promises to be even greener and built to the latest low carbon building specifications. Features would include renewable energy systems, the use of lower carbon materials – such as sustainably sourced timber, stone, and recycled building materials, orientation of the buildings for heat/shade, efficient heating, ventilation and air conditioning systems.

There will also be cycle parking and EV charge facilities.

How high-spec ‘innovation barns’ industrial units could look if built at the Oceansgate freeport site in Devonport, Plymouth (Image: Plymouth City Council)

Historic England has been part of the pre-application discussions along with the Council’s planning department and it supports the Council’s Climate Emergency Action Plan. But the plan means the demolition of two buildings used by the Devonport Naval Heritage Centre. Council leader Tudor Evans said: “Plymouth is at the forefront of marine innovation and a key part of its success is enabling businesses to collaborate with each other and test prototypes.

The first two phases have regenerated and revived land that had been unused by the MoD for decades. “There are over 170 people employed directly or indirectly thanks to Oceansgate. We need to make sure Plymouth stays at the forefront of marine innovation and this is the ideal place to help make this happen.

“South Yard was literally built for the city’s marine industry – an industry which changes all the time. These proposals should help the city of Plymouth continue to lead in this key sector.” The council said that securing City Deal status nearly 10 years ago helped lay the foundations for Plymouth’s marine and maritime innovation sector to thrive.

South Yard is now a key part of the Plymouth and South Devon Freeport and offers specific tax and relief benefits for companies based within it, incentivising employers to invest and create new jobs. The freeport’s tax site at South Yard will support the marine and defence sectors by providing a focal point for technological advances in these arenas. It is the South West’s prime location for marine and maritime capability with direct waterfront access to docks, deep water jetties, land, offices and workshops for testing, trialling, and prototyping.

The remainder of the GBP25m of Government’s freeport seed capital funding will soon be fully allocated across a range of projects all designed to create jobs, support innovation and deliver blue/green skills across key sectors including marine, defence, advanced manufacturing and net zero tech. Five business cases, of which the latest Oceansgate expansion is one, are being signed off by the city council as the accountable body for the freeport this week. This will give certainty to local authority partners and businesses to get down to the job of developing key employment sites for eligible new and high growth businesses coming into the freeport.

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References

1. ^ Devonport (www.plymouthherald.co.uk)
2. ^ Oceansgate complex (www.plymouthherald.co.uk)
3. ^ Oceansgate (www.plymouthherald.co.uk)
4. ^ Click here (chat.whatsapp.com)
5. ^ Privacy Notice (www.reachplc.com)