The 15 acre site at the naval dockyard of Devonport was acquired by the company last year for the building of a new M Class range of yachts. Significant developments will include a new production hangar, which is to be developed in stages to produce a world-class production facility.
“We are now entering the next exciting phase of our redevelopment of the 15 acre South Yard site", said Chris Gates, Managing Director of Princess Yachts. "This vast facility has already enabled us to move successfully into the 100 feet+ ‘Superyacht’ arena with our technically advanced M Class yachts and this next phase will ensure we also have an appropriate world class facility to build them in, just a short distance away from our headquarters in Newport Street.”
The plans outline a £45m investment programme for the yard, leading to the creation of 200 new jobs.
Princess Yachts is one of the largest employers in the region. The new South Yard facility is additional production capacity to the five existing sites the company already operates in the area. Production of the company’s other world leading and award winning craft will continue in the existing facilities.
Princess Yachts M Class Series