Plans: An artist's impression of the revamped Royal William Yard

Plymouth's historic Grade One listed Royal William Yard has been undergoing redevelopment for 11 years.

The Plymouth Development Corporation spent between �20m and �30m on it and the South West Regional Development Agency is looking at spending �35m.

The site is being turned into shops, apartments and an exhibition centre.

It requires an enormous amount of investment Carl Budden

The former Royal Navy victualling yard has had major cash injections from several organisations.

Plymouth Development Corporation took over the yard after it was released by the navy. After that, English Partnerships took over, spending an unknown sum.

Since 1999, the yard has been controlled by the Regional Development Agency (RDA), which has spent �15m to date and is planning to spend at least �20m more. The final cost to the public purse could easily reach �50m to �60m.

The site is being developed by the RDA and developer Urban Splash.

Carl Budden of the RDA said: "In the last five years, we've already spent something like �15m.

"We have a similar amount committed to repairing the mills and bakery section of the yard, plus repairs to improving the public areas of the yard."

'Driving out locals'

The RDA hopes that the revamped yard will become an important asset for the city. However, this confidence is not necessarily shared by local people.

One nearby resident said of the apartments being built: "If you can afford it, that's all and well. But sometimes it's driving out the local people because they can't afford it."

Carl Budden of the RDA said: "I know people are concerned about the amount of money that has been spent, but we need to understand the condition of the buildings and the infrastructure.

"After 150 years, it requires an enormous amount of investment to renew and repair parts of it."

However, if the yard eventually achieves for Plymouth what the Eden Project has done for Cornwall, the doubters could yet be silenced.

The overall project at the yard, which was designed by Sir John Rennie in 1824, is due to be completed by the end of 2005.