The benefits of relocating your business to Plymouth
When considering the UK’s thriving areas for business and commercial property, it is usually mega cities of London and Birmingham that come to mind. However, with plenty of investment opportunities on the south coast, Britain’s Ocean City, Plymouth, is staking its claim as one the UK’s most investable locations.
We spoke to Economic Development Officer at Plymouth Council, Stephen Humphreys, about what makes the city such an inviting prospect for investors.
“Plymouth has a huge amount to offer, including an unrivalled lifestyle, with its amazing green spaces, stunning waterfront and all the advantages of a vibrant urban culture of a big city” says Stephen.
The city was also ranked in the top ten nationally for broadband speeds and coverage, as well as being the greenest city in the country. Combine this with the fact that business premises are on average 35% cheaper than in other areas of the South East and you can see why Plymouth is an ideal location for businesses.
Stephen believes the city is set to capitalise on its growing reputation: “Plymouth is an ambitious city with huge growth potential and exciting changes ahead. We have already seen the growth of the university, the transformation of Millbay and Royal William Yard and the unique opportunities at South Yard. These are really exciting times.”
Investment is a huge part of the city’s future and a £20m project to build a Marine Industries Production Campus will further Plymouth’s status as a world leading location for marine science.
Development plans also include £9m of investment in science parks, as well as £40m towards the Drake Circus Leisure Centre and a £25m transformation of Plymouth History Centre.
There is across the board investment, catering for all sectors and properties, with development in leisure, retail, industrial and residential property, including the creation of a brand new market town.
The city is also attracting increasing numbers of day visitors and overnight tourists, which is pushing hotel occupancy rates higher than the UK average. Recent research by Colliers International shows a clear potential for new supply in the form of a four star hotel with high standards, leisure facilities and international brand.
However, the city does not forget that it owes a lot to its location, hence Plymouth’s title of Britain’s Ocean City. “Its exceptional built and natural environment and its international heritage have all been directly or indirectly influenced by the ocean” says Stephen.
A major challenge facing the UK’s towns and cities is the survival of the high street and it is something that Plymouth Council have been looking to combat. The mainly pedestrianised town centre offers free wifi and puts on a number markets throughout the year. This, as well as the Drake Circus shopping centre development, highlights a dedication to both independent and big name retailers which are both vital when attracting consumers to the high street.
What’s more, with preparations now underway for the 400th anniversary of the sailing of famous pilgrim transport ship, the Mayflower in 2020, these are exciting times for Plymouth.
With plenty of new developments and enthusiasm for investment high, Plymouth is certainly staking its claim to become one of the UK’s business hot spots.
“There is no better time to invest in Plymouth, as it is increasingly recognised as one of Europe’s finest, most vibrant waterfront cities. Quite simply, there is nowhere better to live, work and play than Britain’s Ocean City.”
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