Development agency SEEDA bought the base and plans to convert the two large hangars on site for use by civilian firms that can also use the ship lifting facility, which is able to lift up to 950 tonnes or ships around 50m long.

A SEEDA spokesman said: 'This hoist is a unique piece of equipment and is likely to be attractive to a variety of ship and yacht repairers.'

The slip, associated moorings and workspace will be made available to hire on a commercial basis once it's ready for use, which is forecast to be in the spring.

One hangar is 10,000 sq m and includes an internal rail system which operates throughout and allows for dry docking of multiple vessels, protected from the weather.

The marine park provides 22,000 sq m of property set in five hectares of land with workshops, paint shops and office accommodation as well as working berths, a pier, pontoons and barge platforms.

It's another boost for the region's marine industry, which is also set to benefit from a major scheme on part of the old VT site in Woolston and new facilities in Marchwood.

The site will be given a new main entrance on Shore Road, which will mean the existing Air Training Corps building will be moved.