Was your Yeoman ancestor involved with the Navy (you're in Plymouth) at all ?. The Forest was the main source for their shipyard's oak trees then. What do you know about him, eg I can't see his Will on this site.

I've just risked the vagaries of Wikipedia and lookedup "Yeoman", I didnt know the full meaning of it, particularly the associations with our area and the Yew trees used for the famous longbows.

eg

In the late 14th to 18th centuries, yeomen were farmers who owned land (freehold, leasehold or copyhold). Their wealth and the size of their landholding varied.

Many yeomen were prosperous, and wealthy enough to employ servants and farm labourers. Some were as wealthy as the minor county or regional landed gentry and some even leased land to gentleman landowners. Some could be classed as gentlemen but did not aspire to this status: it was cheaper to remain a yeoman. Often it was hard to distinguish minor landed gentry from the wealthier yeomen, and wealthier husbandmen from the poorer yeomen. Some yeomen in the later Tudor and Stuart periods were descended from medieval military yeomen. This is attested mainly by weapons found above fireplace mantles in the West Midlands of England (especially in the border shires).

Yeomen were called upon to serve their sovereign and country well after the Middle Ages, for example in the Yeomanry Cavalry of the late 18th century and later Imperial Yeomanry of the late 1890s.

AND

Yeoman archers and yew war bows.
The English war bow, known as the longbow, was the main weapon of a yeoman archer. It was typically but not always made of yew wood, often Wych Elm; but other woods were used for making bow staves. However, the Spanish, French and Italian yews were also highly sought after because of their superior growth qualities and the very limited availability of English yew in the late Middle Ages.

The 'yeoman archer' was unique to England and Wales (in particular, the south Wales areas of Monmouthshire with the famed archers of Gwent; and Glamorgan, Crickhowell, and Abergavenny; and South West England with the Royal Forest of Dean, Kingswood Royal Forest near Bristol, and the New Forest). Though Kentish Weald and Cheshire archers were noted for their skills, as well the Ettrick Archers of Scotland, it appears that the bulk of the 'yeomanry' was from the English and Welsh Marches (border regions) and the Scottish Borders).

It shames me I didnt know of the Yew-man link, as 70s lads we made our own bows from yew cut (poached?) from the Royal Forest, I've had a lifelong interest in weaponry, and now my son & wife are keen members of an archery club !

So as well as the Forest supplying timber for the Navy's ships (hence it was a target for the Spanish Armada), the Foresters were recruited as skilled archers for King's armies since the middle ages, and the earliest Forest iron workers produced arrowheads & crossbow bolts for the likes of King Richard. Indeed as this reference shows there was an arsenal at the important St Braivels castle which is very near Newland/Coleford.

So theres a variety of possible reasons why your Yeoman was in the area.
http://www.british-history.ac.uk/report.aspx?compid=23262&strquery=weapons