Plymouth looks forward

Plymouth’s landmark regeneration scheme highlights the city’s new spirit

The 11th largest city in England, with a population of over 240,000, has a rich history and benefits from its location in an area of outstanding natural beauty, with all the attractions of both Devon and Cornwall on its doorstep. Plymouth is also now the site of very considerable investment – a fact which becomes immediately evident to any visitor.
New developments in the city centre and a buoyant property market stand as testimony to the area’s fast growing appeal. The city’s landmark development is royal William yard, where Urban Splash is in the process of transforming historic buildings into a mix of apartments, commercial and retail space that is set to put the location once again at the heart of city life.

Royal William yard is one of the finest collections of listed military buildings anywhere in Europe, arguably rivalling those at Greenwich in London. The Yard covers an 18-acre peninsula in Plymouth’s Stonehouse/Mount Wise area. There are 11 buildings characterised by massive 3 ft thick limestone walls, huge timbers and impressive cast iron columns. The yard was used by the MoD up until 1994. The south West of England regional Development agency took control of the site in 1999 and has spent more than £20m carrying out essential repairs and renovating the exterior of the buildings, as well as making improvements to the Yard’s historic roads, pavements and quaysides.

Urban splash was appointed as developer in 2002.To date, it has invested £20m in transforming the Clarence and Brewhouse buildings – housing 130 apartments as well as a winter garden, arts spaces and a cafe. The company is currently working on the Mills Bakery which will provide a further 79 apartments, as well as mixed commercial accommodation.

Urban Splash is renowned for tackling large and difficult regeneration projects with sensitivity and Royal William Yard is no exception. The interiors of the properties manage to combine modern materials and high-tech appliances with the original structures to stunning effect. The result has certainly excited buyers who have been quick to purchase the apartments, a large percentage of which have water views. Properties currently available range from around £325,000 for a two bed apartment to £1.5m for a 4,000 sq ft penthouse with stunning sea views and private terrace.
Other buildings within the complex are scheduled for progressive development over the coming years to provide residential, commercial and retail space.

Urban Splash has a track record not only of taking on complex projects but also of sparking wider regeneration and revival in the areas surrounding its developments. This has certainly proved the case at The Yard. Residential properties in the vicinity that would have typically sold for around £100,000 just a few years ago are today more likely to change hands for five times that amount.

But Royal William Yard is not just about providing homes with both the city and the delights of Devon and Cornwall on the doorstep. It is also very much focused on bringing the Yard back into use as a focal point for Plymouth life.
Commercial properties are attracting considerable attention, with a number currently in solicitors’ hands, so the area is set to be a business venue, too.

Urban Splash has also worked hard to ensure that the development has something to offer not just those who live and work there, but also the entire Plymouth community, as well as visitors.

The arts space located in the Brewhouse building has hosted a number of events. It, and other buildings on-site, have served as the venues for music and opera and also provided the focal point for this year’s Enterprising Plymouth event, which celebrated the mood of optimism that pervades in the city and showcased the innovation which is increasingly a mark of its resurgence.

A stylish cafe offers refreshments to those visiting the events, or just seeking to relax in the waterside environment.
Jason Collard, managing director of Urban Splash South West explains: “It's not difficult to see why people want to come to this city to live and work. A quick drive through the centre provides plenty of evidence of the amount of investment underway. It is great to see Royal William Yard coming back to life and it is a unique development with which we are tremendously proud to be involved. It was once a bustling place and it’s easy to imagine it in its heyday. Now it is set once again to become part of the city’s heart and its regeneration can be seen as a symbol of just how much is now going on in this part of the South West.”

Royal William Yard offers Plymouth's businesses a high quality destination location. Its heritage, style and position just outside the city centre all make it rather different from many of the other developments in the city. What it clearly points to is the renewed sense of excitement, stemming not just from the commercial and residential development activity but also from the expansion of the university.

Joanna Skinner of Knight Frank says: “The city centre office market is currently relatively limited, despite the office take up in Plymouth having risen sharply in recent years. This is due to the lack of deliverable sites with or without planning consent, partly due to high values generated by residential and other development. Out-of-town schemes have recently been the focus for major office development. Tamar Science Park and Plymouth International Medical Technology Park on the outskirts of Plymouth city centre are currently commanding office rents between £12 to £14 per sq ft, compared with city centre rates which are currently peaking at approximately £12.50 per sq ft.

“It is fantastic to see so much activity at Royal William Yard, the first residential occupants have moved in and we are encouraged by the expressions of interest already received for the commercial space both in the office and retail elements,” adds Ms Skinner. “Royal William Yard is fast becoming a destination in its own right and will undoubtedly soon play host to more community and arts related events. Offices at Mills Bakery at Royal William Yard are due to be completed in early 2008 and quoting rents are between £12 per sq ft and £14 per sq ft.”

Urban Splash expects to be on site at Royal William Yard for up to 15 years, reflecting the scale of the project. There is much activity in retail, business and health infrastructure across the whole of Plymouth and it is anticipated that there will be over £1bn of investment in Plymouth over the next 20 years. In short, the air of entrepreneurship and innovation which is central to the Urban Splash approach is reflected throughout Plymouth, giving a clear foundation for the optimism across the city.

City Development Company to be set up
A new era in the development and planning of Plymouth is about to begin with the establishment of the City Development Company (CDC), hoped to be the motor to drive the city’s ambitious growth plans forward.
The CDC will be a partnership between the City Council, the south west of England Regional Development Agency, English Partnerships (EPs) and the private sector, as business and developers look to push Plymouth onto the regional, national and international stages.

The creation of the new company is a key component in the area’s Local economic strategy which spells out exactly how Plymouth, as the regional hub, will encourage a considerable expansion in the jobs and skills markets, to match the city’s booming development programme and ambitions. In time, the company plan to regenerate the whole city, but will focus its immediate attention on the waterfront regeneration areas and the northern and eastern corridor opportunity areas of Plymouth.

A report to Plymouth City Council’s Cabinet, which met recently, has set out how the CDC will operate, its aims and objectives, functions, funding arrangements as well as its relationship with the other partnership bodies. Funding will be provided initially from the Regional Development Agency and Partnerships, who have each agreed in principle to support the CDC with £250,000 a year for three years. The Council, through its New Growth Points funding, will also commit £250,000 in the new financial year.

In line with the development’s significant level of investment the company set out a detailed remit in its recent report.

The CDC is expected to:

Leader of the Council, Cllr Tudor Evans acknowledges the scale of the job at hand:

"It is recognition that for the city to become prosperous, all the city partners have to work together. we want to raise the skills base, create an entrepreneurial attitude and encourage investment in the city. By having a strong partnership managed through the CDC we will be able to deliver the regeneration of Plymouth."

Sue Brownlow, Head of Operations for the South West RDA in Devon, said:

"Establishment of a City Development Company to drive these plans is an important step forward."