New 105 will be first off the production line

Princess Yachts have signed the lease for a 15 acre waterfront site at South Yard, Plymouth, for the construction of a new range of large yachts.

Part of the famous Devonport Naval base, the facility will allow Princess to start construction of bespoke craft over 100ft, which are too large to be built in Princess’ existing manufacturing sites.

Chris Gates, Managing Director at Princess Yachts International, said: “Acquiring this land is a significant step for the company’s future. We have been working for some time to achieve the waterfront location we require in the Plymouth area.

“Expanding locally has always been a priority not least because of the skilled workforce and supply chain we have established here over the years.

“The South Yard site will enable us to start immediate production of a new range of large craft. We have identified this market as key for Princess to ensure its growth and long term development, helping us secure stable employment for our workforce.”

With the additional 15 acres at an estimated phased investment cost of around £15m, Princess Yachts International now has more than 38 acres of land in Plymouth.

One of the first yachts to be built at the South Yard site will be the Princess 105. The first finished craft should be completed by the end of 2010.

Chris continues: “This investment means we can meet increasing worldwide demands for larger motor yachts and continue to strengthen the company for the future.”

Photo shows Devonport Naval Base Commander, Commodore Ian Jess, with Chris Gates, Princess MD, at the new site, in front of a Princess 95.

www.princessyachts.com