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Prydis completes GBP3.3m fundraise for ‘The Ship’

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Prydis has completed a fundraising for Burrington Estates, enabling the purchase of ‘The Ship’, formerly a Daily Mail Group building, in Plymouth.

Over GBP3m has been secured from Prydis I Club members, Prydis’ High Net Worth investor club, rescuing the building from potentially being knocked down and re-developed.

The developer, Burrington Estates, is committed to developing, restoring and maintaining beautiful historic buildings in a way that celebrates architectural heritage and local popularity. The previous owners of ‘The Ship’, the Daily Mail and General Trust (DMGT) recently applied to demolish the building and now Burrington Estates aim to create a flexible, professional working environment for entrepreneurs and businesses. The Ship has been renamed as the ‘Spirit of Enterprise’ and is being listed by Historic England.

The building was designed by architect Sir Nicholas Grimshaw and opened in 1993. It was labelled ‘The Ship’ due to its shape and has won numerous awards for its modern industrial architecture.

James Priday (pictured), Managing Director, Prydis says: “The success of this fundraising allows Burrington Estates to move forward with the building’s ambitious restoration.  The Ship is an impressive building which will now benefit the people of Plymouth for years to come. We look forward to working with Burrington Estates again in the future.”

Mark Edworthy, Founder, Burrington Estates, adds: “We are dedicated to restoring heritage sites and are looking forward to opening the building for the City’s businesses and entrepreneurs.  The building is an important landmark for Plymouth and we are pleased that it will be recognised by Historic England, preserving the site for future generations and we hope this will help to support the local area’s economy.”

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