Topping out ceremony at Plymouth's landmark IT hub

Plymouth Science Park’s landmark £7million building already has two top London-based firms wanting to move in.

Both are relocating their R&D hubs to Plymouth Science Park, drawn by its innovation, support for businesses, technological advancement and partnership working with the South West

Local Enterprise Partnership, Plymouth University and Plymouth City Council.

The South West’s enviable lifestyle, more affordable rents and salaries, freedom from dreary commutes, less staff poaching, and an enhanced quality of life give businesses relocating here an advantage over South East locations.

Rory Kindlon, CEO of marketing technology firm IO Technologies, says: "You don't have to be in London or the Thames Valley, which are three to six times more expensive. And salaries are 10 to 40 per cent higher in the London area. Plymouth is a fantastic place to put R&D facilities, whether you are a big company or a start-up. People say we are a Silicon Valley company in Plymouth.”

“If you are not progressing you’re regressing. We have very high standards to get in, the bar is set very high, but for those who do get through we offer the most competitive rates of remunerations, with share options, ongoing training and in addition we pay relocation costs. We are bringing highly skilled people to the area.”

Partnership working has ensured the success of the development, part-funded by the Heart of the South West LEP. Work only started on the three-storey block, the largest on the PSP site, in December 2015 and developers are confident it will be ready for its first occupants to move in by December this year. Nearly 60 per cent of the office space in the building is already taken and nearly 200 jobs are expected to be created.

Christian Jenkins, Director of Operations of Plymouth Science Park, said: “Plymouth Science Park is delighted to welcome Intelligent Optimisation and The Key Support Services as the anchor tenant businesses for our new state of the art tech hub due for completion at the end of 2016. That these two companies operating on a national and international level have decided to base their Research & Development HQ's at our park, is demonstrative that Plymouth Science Park is a regional facility with world class appeal.”

“This is achieved through the provision of first class office space, innovative breakout and networking areas, incredible broadband and telephony, onsite data-centres, close links to Plymouth University’s talent pool and, most importantly, moving to the park gives both companies the valuable option of being able to take on more space as they grow.”

“We are seeing the start of a real tech hub developing right here in the Westcountry and these are exciting times. When you look at the combination of very competitive office rents, low staff turnover, fast links to London and the fantastic lifestyle Plymouth has to offer, it's easy to see why locating your tech start-up at Plymouth Science Park is the right choice for business growth.”

The new space-age building will form the entrance to Plymouth Science Park which is located on 25 acres of wooded land just behind the west country’s biggest hospital, Derriford, in the city. The glazed front of the building will be illuminated at night, clad in zinc-coloured aluminium and have glass ‘pop outs’ - while inside there will be an impressive open atrium.

Chair of the Heart of the South West Local Enterprise Partnership, Steve Hindley, said: “We are delighted to invest Growth Deal funding in this important development, which is designed to act as a regional catalyst for science and technology innovation. The further development of Plymouth Science Park will create 2,972 sqm of new and refurbished space and generate 190 jobs.”

“The news that this latest company is investing here is testament to the success of the project, and the popularity of the Heart of the South West for growing businesses, attracted by excellent-value property and development sites, a skilled-workforce and excellent quality of life.”

Graham Kingdom, Construction Director at BAM Construction which is building the 27,000sq ft. hub, from a design by Royal William Yard-based architects HLM, said: “Having previously delivered the John Bull Building, we are delighted to be working on Plymouth Science Park again. This building will provide a much needed facility for new businesses to thrive and make a significant contribution to the future of not only Plymouth and the South West, but also the UK.”

Professor Simon Payne, Deputy Vice-Chancellor of Plymouth University, said: “With the opening of this landmark building; that we will provide thriving businesses across the South West a vibrant and exciting environment to grow in, the Plymouth Science Park reconfirms its position as a centre of excellence for the medical, digital and e-commerce sectors as well as providing support for start-up businesses essential for the continuing success of Plymouth’s economy.

“PSP is a shining example of what can be achieved when the private, independent and public sectors work hand in hand for the wider benefit of the whole community.”
The new multi-million pound building will also offer the best ICT infrastructure available, delivering superfast broadband connectivity, network resilience and access to PSP's Level 3 Data Centre. The topping out ceremony took place on August 30th 2016 on site.