Investing in Plymouth

Plymouth might not be the first place that springs to mind when thinking about investment potential, but the 'Ocean City' is quickly rising as one of the most interesting options on the south coast of the UK.

Alongside marine, business services and creative industries, Plymouth benefits from a diversified tourism sector that feeds off the city's waterfront area. Attractions, shopping and sightseeing opportunities are all key drivers in the rising city, which welcomes an impressive five million visitors each year and shares a tourism spend of £316m.

The area has the highest concentration of manufacturing employment along the south coast too. In fact, 12% of Plymouth's jobs are in the manufacturing industry, which outstrips the current national average of 8.3%.

The city centre's pedestrianised area gives shoppers the opportunity to explore both high-street offerings and independent sellers. As it stands, Plymouth is currently the largest centre for shopping in the South West outside of Bristol.

Visitors to The Barbican and Sutton Harbour areas will find traditional cobbled streets and over 200 listed buildings to explore. The area is known for its boutique stores and an array of eclectic restaurants. Other attractions nearby include the famous Plymouth Gin Distillery and the National Marine Aquarium.

Plymouth's artisan draw continues at The Hoe, where tourists flock to take in memorable views across Plymouth Sound, which serves as one of the more iconic natural harbours in the world.

Beyond its heritage and picturesque appeal, the coastal region is in the midst of rapid investment and promising growth. Recent successful developments have included the creation of a new £4.8m coach hub and City College Plymouth's £13m Regional Centre of Excellence.

Perhaps the most eye-catching developments of them all, however, is the Oceansgate project, which is seeking to transform the South Yard area in Devonport into a world-class hub for marine industries.

Such is the draw of the city, further developments are also being discussed, including a £50m investment to develop a five-star Hotel by 2020 and another £48m invested to help create a new train station by the same year.


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