This workshop has an armor workbench and cooking station outside. It also boasts has a large farming space, with good Steel fence around the area. I recommend not to scrap them. The pool itself can support industrial-grade purifiers and where tarberries grow.
The person in charge in this place is Wiseman. You will only be able to ally to this farm by completing the quest “The Slog: Greenskins”. Talking to Arlen will allow you to start a misc quest to gather Giddyup Buttercup parts from the Wilson Atomatoys Factory far to the south. Once there, get the Factory ID card from the table to the NW portion of the building and use it to open the security door in the ground floor. Grab the Giddyup Buttercup Toy Parts and deliver them to him.
Additionally, you can recover Marlene's Holotape from Wilson Automatoys Corporate HQ and give it to Arlen. He'll break down to tears and will award you with caps, exp, and a Giddyup Buttercup toy.
The area is literally throwing distance away from Saugus Ironworks. You can loot flamers and cage armors from the Forged enemies here and get some of the components lying outside the area. This can be used to equip your settlers or scrap them for extra components.