Mylor Yacht Harbour
New Marina & Onshore Facilities - Phase 1 - £4.0m
Mylor Yacht Harbour is set in a stunning natural harbour in West Cornwall. However, following many years of insufficient investment in the site’s infrastructure, the future of the businesses operating at the harbour was threatened along with all the jobs dependent on its existence. Roger and Dinah Graffy purchased the site and the main business (Mylor Yacht Harbour Ltd) in December 1997 with a view to making the necessary investment in the site to secure the future of the yacht harbour as a whole.
& Dinah Graffy asked De Facto to help them obtain grant funding to meet the
‘gap’ in their investment plans between cost and potential return. We approached English Partnerships to discuss
the scheme, and established that there was a possibility of securing funding
from its Partnership Investment Programme – PIP. In order to justify the case for funding, we
had to prove the demand for the marina, and that the scheme would benefit the
local economy. In order to achieve this we did the following:
* Carried out bespoke market research to establish the demand for new marina and lay-up berths
* Surveyed all the businesses at the harbour in order to establish the job creation potential of the scheme
* Set out the overall socio-economic benefits of the scheme* Liaised with other members of the Graffys' project team to assess the costs and funding gap
The result of our involvement was an award of £0.8 million funding from the Partnership Investment Programme, which enabled the Graffys to continue with their ‘dream scheme’ and turn the yacht harbour into a thriving marina supported by numerous successful businesses. Planning permissions were also secured, and the work at the harbour was completed in 2005. A further programme of investment has subsequently been carried out between 2005 and 2010.
Roger Graffy said of our involvement:‘Without De Facto we are sure that the project would have died, over 100 jobs would not have been safeguarded and our chance to create jobs would not exist. Our experience of De Facto has been of a company with clear vision, professional presentation and the all-important contacts to put our project on track’.
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