Corporate news
CityFibre agrees sale of Lit Fibre ISP to its co-founders
1 November 2024
City communications
Work to transform Plymouth into one of the world’s best digitally connected cities kicks off today.
Plymouth is celebrating a major milestone in its digital transformation today as work begins to extend its full fibre network to reach almost every home and business locally.
As part of a £52m private investment from CityFibre, Plymouth will benefit from a city-wide full fibre network roll–out that will build on the third national digital infrastructure platform’s earlier investment in Plymouth’s business connectivity, making it accessible to residents too.
According to research from economic consultancy Regeneris, full fibre connectivity will have a major impact in Plymouth over the next 15 years. It shows that up to £83m could be added to the value of local homes, while Smart City initiatives could add as much as £52m locally. Access to full fibre could also unlock £23m in business productivity and innovation, while a further £14m in growth could be driven from new business start-ups, with enhanced connectivity making it easier and less expensive to set up base and run efficiently.
Construction work has officially commenced in Plymouth’s Estover area, with the rest of the city set to follow over the next three to four years. Oakway Limited is delivering the construction programme on CityFibre’s behalf, using modern build techniques to deploy the network quickly. The team is also working closely with CityFibre, Plymouth City Council and local communities to manage disruption and ensure a fast and successful roll-out. Meanwhile, residents are being kept informed by mailings ahead of works in their streets.
Kathryn Askew Smith, CityFibre’s City Manager for Plymouth, said: “Plymouth’s residents’ digital future is just around the corner. Work is now underway and that is something to be celebrated. Full Fibre broadband will help households access all the latest entertainment at lightning speed, but the benefits are far deeper than that – from enabling smart home technology to giving people the freedom to work from home with ease.
“The investment also comes at a critical time for Plymouth’s forward-thinking business community. Next generation Full Fibre connectivity can drive innovation and productivity, ultimately giving businesses the platform they need to realise their growth ambitions. And it won’t just improve business locally – it will also help businesses take their products or services to an international audience.”
Stuart Elford, Chief Executive at Devon & Plymouth Chamber of Commerce, said: “It’s fantastic news to learn that build has finally started in the city. CityFibre’s investment will help ensure that the power of digital technologies are fully harnessed in Plymouth. Full fibre broadband will benefit the people and the business community by unlocking new forms of economic and social value and ensure that Britain’s Ocean City builds on its reputation as a great place to live and work.”
Currently, fibre-to-the-premises (FTTP) is available to less than 20 per cent of premises across the UK. It is revered as the best in connectivity for its speed, near unlimited bandwidth and reliability. By using fibre optic cables for every stage of the connection from the customer’s home or business to the Internet, users will be offered a significantly superior and more reliable broadband service, capable of Gigabit speeds (1,000 Mbps).
The full fibre network is not yet live, but once activated, services will be available from an increasing range of broadband providers, including Giganet.
Residents interested in connecting to full fibre broadband can pre-register their interest at cityfibre.com/residential
With network projects in over 60 cities and construction underway to reach up to 8 million homes
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