Development Stage 6 – Completed
The second phase of Plymouth City Council’s Oceansgate development, a world-class hub for marine industries, reached completion May 2021.
The project is transforming disused Ministry of Defence land in three phases, creating a purpose-built environment with both offices and industrial units designed with the needs of marine and maritime businesses in mind.
Phase 2 gives an additional 1,350 metres squared of light industrial space in three separate buildings and 1,100 metres squared of office space. The new office building is named Nesbitt House in honour of Plymouth-born Kate Nesbitt, who became the first female member of the Royal Navy to be awarded the Military Cross for her service in Afghanistan in 2009, celebrating the site’s defence links and proximity to the Naval Base.
The newly completed phase is already over 90 per cent pre-let. Tenants moving into Phase 2 include ESL Group’s Space and Defence Solutions division and City College Plymouth, which is creating a new dedicated learning environment offering university-level courses in marine and engineering subjects.
Oceansgate is the city’s Marine Enterprise Zone and sits within South Yard which is a key part of the new Plymouth and South Devon freezone. The freezone offers specific tax and relief benefits for companies based within it, incentivising employers to invest and create new jobs.
Phase 2 of Oceansgate is a £7.6 million project funded by the Council and a £2.25 million grant from the European Regional Development Fund (ERDF).
Find out more about Oceansgate Phase 2