Area Team: Devon

The Royal William Yard, in Plymouth, is recognised regionally and nationally as one of the finest examples of regeneration taking place in the UK. 
 
Since becoming the owner of the Royal William Yard in 1999, the South West RDA has spent more than £20 million on renovating the exterior of the listed buildings and another £5 million on improvements to the Yard's historic roads, pavements and quaysides. 
 
This investment has paved the way for the ongoing redevelopment of the interior of the buildings by our award-winning development partner Urban Splash. 
 
Urban Splash has invested in the region of £21 million during 2005/06 in completing the transformation of the Yard's Clarence and Brewhouse buildings into stylish new homes. 
 
Their success was reflected in the huge interest from potential occupiers, both locally and nationally, in the next phase of the development which is now under way on the Mills and Bakery building. 
 
The development of commercial space within the Yard means Plymouth can look forward to businesses creating new jobs at the Yard and to restaurants, bars and shops opening amid its unique surroundings. 
 
The former Naval victualling yard dates back to 1825 and for more than 160 years supplied the Fleet and provided a base military units before the Royal Navy finally withdrew from the site in 1992. 
 
Sue Brownlow, Head of Operations in Devon for the South West RDA, said: "The challenge for the agency was to bring the Yard back into the economic and social life of the city - something which has required a considerable investment but one which is paying off, with what was once a liability for Plymouth now turned into a jewel in the crown for the city. 
 
"It is a project that not only preserves Plymouth's finest collection of 19th Century buildings but also gives them a new purpose as a desirable residential and business quarter within the Stonehouse and Plymouth community. 
 
"The Yard represents a success story that shows how we can intervene in areas where the market has failed, work with local and business communities, and provide the funding and long-term aspirations to take a neglected site and transform its fortunes. 
 
"It is this support that has given Urban Splash the confidence to join us in investing in the future of the Yard - and what a bright future that is."