Plymouth Fish Market Feasibility Study
Schedule 1 ‘The Programme’
Name of Project – Plymouth Fish Market Feasibility Study
Contact name – Edward Baker
E-mail - Hello@pfsa.uk
Project Summary
In May 2024, the Plymouth Trawler Agents (PTA), ceased trading. The PTA formerly operated the Plymouth Fish Market, under contract to Sutton Harbour Company, allowing fishers to sell fish and seafood landed here in Plymouth direct to buyers and merchants. The operation had been profitable in the years leading up to 2024, however the PTA believed that looming changes to fish quotas combined with increased operating costs made their existing model unviable going into the future.
Arrangements have been put in place allowing fish landed in Plymouth to be transported to adjacent fish markets, Brixham and Newlyn to be sold. While this is a working solution in the short term the local fishers and stakeholders want to explore the potential of establishing a sustainable local solution in the longer term. The Plymouth Fishing and Seafood Association (PFSA), Plymouth City Council (PCC) and Sutton Harbour Company (SHC), three of the key stakeholders of an operational fish market each have expressed a desire to see the fish market be re-opened in Plymouth.
PFSA, working with local fishers, including representatives of large & small boats, merchants and active fishers, is now exploring ways in which to establish a new fish market. The group of fishers has established a Steering Group to progress this work on its behalf. The Steering Group has convened a team of local professional advisors, including an accountancy firm and law firm to advise the Steering Group and has produced some initial financial statements and plans.
To take this work forward the group now needs to fully understand the viability of operating a fish market in Plymouth. To explore this it is proposed that a feasibility study is undertaken, which will seek to address the points outlined below:
Since the closure of the Plymouth Trawler Agency (PTA) and subsequent shut down of the Plymouth fish market, both Brixham and Newlyn have provided over land services allowing fishers, who use Plymouth as their base, to continue to access markets. In the exploration of the reopening of the fish market in Plymouth it is key that the importance of this relationship is acknowledged, and care should be taken to ensure the relationships with Brixham and Newlyn are maintained.
In examining the reopening of the fish market careful consideration should be given to the commercial model and the type of fish market that is needed (i.e. small, cutting edge, targeting small day boats or large scale for all sizes of vessel. The focus should be on the sustainability (both commercially and environmentally) of future operations.
In examining the reopening of the fish market, two timeframes should be considered: the immediate / mid-term (9-18 months), and the longer term (2 years and beyond). One of the prime objectives is to reopen the market as quickly as possible, for the 2024 winter season (commencing September). To achieve these objectives, the type of market, set of services, etc., may well take two/three forms, to be adapted for the short /mid and longer term, to account for equipment requirements, types of landings, effective integration and collaboration with nearby smaller ports, broader views for redevelopment and refurbishment of the site.
In delivering this work the following key points should be considered.
A full review of the PTA operation highlighting what worked well and what did not work so well. This should be used to inform decisions around what the operating model for a new market should look like, factoring in the current position, and identifying existing gaps that need to be addressed. This should also consider the staffing required, and equipment and premises needed to run a viable and sustainable fish market that attains high prices for the product landed and consider the need for transporting fish from other ports for grading and sale from the Plymouth market.
Based on known historic financial data and future projected revenues what would a month by month cashflow model (and any other relevant financial documentation) look like for informing initial and future rounds of investment needed to ensure viability of a fish market in the long term. This aspect should give thought to the type of product landed and its value, giving insight on whether the fish market should have a specific focus on the value of product landed over volume.
What, if any, infrastructure / capital investment needs to be considered for the reinstatement of a viable and sustainable fish market in Plymouth? What are the potential sources of this funding / investment?
Identify examples where other fish markets have created and successfully deliver ancillary services / offers with a view to mitigating volatility in the political, economic, social and environmental landscape, e.g. selling direct to the public, restaurant, cooking school or community / educational outreach, provision of ice and fuel.
Consider the viability of a satellite auction whereby fish is graded and processed for onward transport in Plymouth but sold via either Brixham or Newlyn’s electronic auction.
What is the most appropriate legal structure for a new fish market to operate under, this should seek to compare legal structures of existing fish markets, to identify a solution for Plymouth that is right for its specific characteristics.
In completing this work, the consultant(s) should seek to engage with key stakeholders including but not limited to, Brixham and Newlyn fish markets, Interfish Ltd and day boat and large boat operators based in Plymouth and outlying ports such as Looe, Polperro and Mevagissey.
To this end Plymouth City Council (PCC) will award a grant of £10,000 to the Plymouth Fishing and Seafood Association, to procure the services of a suitably qualified consultancy with expertise in the fishing industry to undertake these works and produce a report which clearly articulates the outcomes of its research into these points. SHC is contributing an amount of £5,000 towards this effort, with the balance of the budget to be funded by the PFSA.
Agreement on scope and appointment of consultants
PFSA will convene a Steering Group to oversee the delivery of this project. This group will include representatives of PCC, PFSA and Sutton Harbour Company (SHC). The group shall determine its own Terms of Reference, as required, to fully define and agree upon matters including but not exclusively the scope of the project, decision making and key milestones. The group will meet on a regular basis (to be agreed by the Steering Group) during the period of the work.
PCC and SHC will retain a requirement to sign off the final specification that is developed to procure the services of the consultancy. Further, a representative of PCC and SHC will be involved in the process of selecting the consultancy, and will be invited to appropriate meetings to fulfil this role. PCC and SHC shall have access to and be given the opportunity to comment on a draft of the report prior to a final copy being agreed upon. In addition, should it be deemed appropriate, PCC and SHC retain the right to include its logo on the final report that is produced.
Intellectual property
The final report and its contents shall be under the ownership of PCC, PFSA and SHC. The report and its contents shall not be made public or shared without express written prior approval from each of the identified owners.
Press and Communications Protocols
PCC and SHC as contributing partners will be given fair warning of any press and communications activities and will be given the opportunity to input to and sign off on any press and communications activities prior to them becoming public and shall be given the opportunity to include quotes where appropriate.
Timescale
The final report should be completed no later than February 28, 2025. The Partners would highlight however that a key season for seafood in the city (cuttlefish season) begins in September 2024 and where reasonably possible the outcome of any report should be actionable by this time.