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Princess Yachts Superyachts to be built in naval base
11 June 2009
Princess Yachts, Plymouth's second largest employer, have signed
a lease to move into their newest Plymouth site into the South Yard
area of Devonport Naval Base. Having outgrown their previous site,
which is not large enough to accommodate large yacht construction,
Princess Yachts will initially use South Yard's 'Number 3 Shop' for
construction of their newest-model larger superyachts. It is
expected that the preparatory work will take up to six months to
complete.
Plymouth City Council, South West RDA (Regional Development
Agency), Plymouth City Development Company and the Homes and
Communities Agency have been engaged as external stakeholders
throughout the Princess Yachts project. The MOD recognises the
local benefits associated with this project, including constructive
use of unused MOD/RN land, local job creation, and the strategic
regeneration of the Devonport area.
Naval Base Commander, Commodore Ian Jess said: "I am delighted
to welcome Princess Yachts to the Naval Base. This project has been
a key element of Programme ROUNDEL, which pursues the
rationalisation and optimisation of the Naval Base Estate,
facilitating the reduction of its operating costs. I am confident
this lease generates income for an otherwise unused area of MOD
estate, on rental terms that provide the optimum mix of flexibility
and value for money. It also delivers the first tangible element of
the certainty the region has requested from the Maritime Change
Programme".
Chris Gates, Managing Director of Princess Yachts International,
added: "Acquiring this land is a significant step for the company's
future. This site will enable us to start immediate production of a
new range of large craft placing us in a position of strength to
cater for the increasing worldwide demand for these vessels. We are
delighted by the unprecedented support we have received from the
MOD, Plymouth City Council, South West RDA, Plymouth City
Development Company and the Homes and Communities Agency in helping
us achieve this and have no doubt this will be key to our sustained
future growth and long term development, ensuring stable employment
for our skilled workforce in the area."
Ian Thompson, Devon area director for the South West RDA, said:
"The lease on this key site is an exciting opportunity for Princess
Yachts and for Plymouth and allows Princess to expand their range
of luxury yachts to meet demand from a worldwide market. It secures
the future of a major Plymouth and regional employer, retaining the
skills and expertise in what is a key sector for the city and one
in which we want to encourage future growth."
James Brent, chairman of Plymouth City Development Company
(PCDC), said: "We are delighted that Princess Yachts has chosen
Plymouth to remain as its base and as the place to grow its
business given the opportunities available across the world to such
a prestigious company. The PCDC is very supportive of the local
major employers, and in working with them to drive growth in their
business and create high value jobs for the benefit of the city,
particularly within our priority sectors. Thanks are also due to
our partners who have worked over a period of time to ensure the
optimum facilities were made available in Plymouth to make this
important agreement possible."
Ends
Press and Public Relations Dept
Naval Base Headquarters
HM Naval Base
Devonport
Tel: 01752 554344
Third Party Issuer
HM Naval Base - Devonport