Pendennis Shipyard in Falmouth has announced stage one of its yard development will be finished this month, with phase two already underway.

The development, which started in February 2013, has seen the previous one main construction hall replaced with two 90m halls alongside a further 45m hall, and a four-storey workshop, office and hospitality complex which is currently being completed.

This complements the existing 150m dry dock and provides more flexible space for refit and new build projects at the six and a half acre site.

Phase two is already underway and due to be completed in 2015, as the shipyard begins the development of marine-based facilities with the creation of an adjustable depth wet-basin directly in front of the yard.

The longest arm of the basin is planned to be 100m, enabling several visiting yachts, or larger 60m or longer projects, to be based directly alongside before and after their refit or build periods.

In order to cater to the trend of refitting larger yachts at Pendennis, the yard has recently taken delivery of a 600 tonne travel hoist.

This hoist has already been used to lift SY Mariette which is at the yard for minor engineering works and anti-foul in preparation for defending her Pendennis Cup title at the end of May.