£1.88m Investment Set to Double Capacity at Cornish Boatbuilder Cockwells

Cornish boatbuilder Cockwells Modern & Classic Boatbuilding is set to double its production capacity and create 38 new jobs following a £1.88m investment from the Cornwall and Isles of Scilly Good Growth Programme. This funding is part of a £2.9m project to expand the company’s South West Shipyard located at Ponsharden, between Falmouth and Penryn.

Expanding Operations

Cockwells, which specialises in building high-end custom yachts, superyacht tenders, and motor launches for a global customer base, employs over 140 people and is seeing orders stretch well into 2025. With the new investment, the company will modernise its fit-out halls, reduce delivery times to less than 12 months, and begin manufacturing its new Duchy 45 motor yacht at the Ponsharden site this year. The expansion is expected to create 25 jobs immediately and 38 in total over the next three years.

The improvements also include new workspace with reception areas, stores, offices, a joinery shop, and a large-scale paint booth. The development will help Cockwells increase its annual spending with local suppliers to £3m.

A Focus on Sustainability

In line with the goals of the Good Growth Programme, Cockwells is set to make significant investments in solar power, geothermal heating, and plant 80 trees at the site to reduce its carbon emissions by around 26,000 tonnes.

The company is also working with the Cornwall Marine Network to create a high-quality training academy, building on its existing boatbuilding apprenticeship programme, to improve industry skills in Cornwall and the Isles of Scilly.

Collaboration with Pendennis Shipyard

The announcement follows news last month that Pendennis Shipyard has acquired a majority stake in Cockwells, cementing a long-standing collaboration between the two companies. Cockwells has provided bespoke tenders for Pendennis’ superyachts, and this new partnership is expected to further strengthen their business relationship.

The Cornwall and Isles of Scilly Good Growth Programme, managed by Cornwall Council and funded by the UK Shared Prosperity Fund, has been designed to support businesses like Cockwells that contribute to green, socially responsible growth. For more information, visit the Good Growth Programme website.

For more details on the UK Shared Prosperity Fund, visit the government’s UK Shared Prosperity Fund page.

Photo: The team at Cockwells Modern & Classic Boatbuilding at Ponsharden. Image credit: Cockwells.