FTSE 100 defence firm Babcock has purchased a former Dingles and House of Fraser department store in Plymouth, Devon, which it will convert into new offices for 2,000 people.
Babcock said the plans will “breathe new life” into the city centre building
The city centre building at 40-46 Royal Parade is set to be turned into a capability centre for the firm following a major redevelopment. The House of Fraser department store closed down last month and had been listed for sale by commercial agent Vickery Holman for £3m.
The international defence, aerospace and security company said establishing the new facility would free up space at its nearby Devonport Dockyard site and “breathe new life” into the building, significantly increasing footfall in the city centre.
Harry Holt, deputy chief executive of Babcock, said: “Securing a location for our new offsite facility is a significant milestone. Importantly, it will strengthen the capabilities required to deliver this critical work in the defence of our nation.”
Holt added: “The move reinforces our commitment to Team Plymouth, supporting sustainable prosperity by creating high‑quality jobs, strengthening Plymouth’s economy and accelerating regeneration in the city centre.”
Luke Pollard, MP for Plymouth Sutton and Devonport, said: “Babcock’s announcement that Plymouth city centre will be home to 2,000 workers is a huge vote of confidence; not just in our city, but in our regeneration plans and the future of defence here. By relocating roles into the city centre, this move creates vital space at Devonport for the billions of pounds being invested in new defence infrastructure, equipment and capability, supporting both our armed forces and the local economy.”
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