focus on portsmouth ... continued
total rental income from the scheme will be in excess of £250,000 per year.
The council is also nearing completion on the building of new shopping development Portsmouth Retail Park on land the authority purchased at North Harbour last year.
The scheme will bring in an extra £1m a year to council coffers and will welcome eight shopping and food outlets and a gym.
Work on the development, next to Tesco Extra, in Southampton Road, is being carried out by property solutions firm Simons Group, which is on target to meet its original completion deadline and hope to be moving tenants in over the next couple of months.
The development is fully let to: Decathalon, Subway, Costa, Greggs, Pure Gym, Home Bargains, Jollyes pet superstore, Explore Learning and The Vet.
The Limberline Spur site was previously occupied by the council’s former tenants AE Hadley shopfitters. The new units were designed and built by contractors Dawson Wam and range from 441 sq ft to 2,820 sq ft. The development cost £4.4 million and the
Portsmouth City Council is leading the way nationally in terms of property investment and Portsmouth Retail Park is the 11th purchase in the council’s property investment portfolio which generates £4.3m per year for council services.
This commercial approach has meant the council has been able to mitigate the ongoing cuts to council spending and protect services that would otherwise be at risk.
DEALMAKER AWARDS 2018
OCCUPATIONAL SALES & LETTINGS 2017 WINNER:
OFFICE DEALMAKER Vail Williams
Hughes Ellard Ltd
Lambert Smith Hampton Garner wood Ltd
NUMBER OF DEALS 10 6 3 3
OFFICE DEALMAKER Vail Williams
Hughes Ellard Ltd
Lakeside North Harbour Lambert Smith Hampton Garner Wood
OCCUPATIONAL SALES & LETTINGS 2017 WINNER:
INDUSTRIAL DEALMAKER NUMBER OF DEALS Vail Williams
Lambert Smith Hampton Doherty Baines Hughes Ellard Ltd JLL
27 12 7 5 2
WINNER:
SQ FT OF DEALS 48,095 33,618 17,450 5,954 3,704
PORTSMOUTH
WINNER:
INDUSTRIAL DEALMAKER Vail Williams
Lambert Smith Hampton Doherty Baines Hughes Ellard Ltd London Clancy
SQ FT OF DEALS 176,437 125,050 75,082 35,539 30,000
ARE YOU A WINNER? Request your digital badge: email
marketing@costar.co.uk 44
businessmag.co.uk THE BUSINESS MAGAZINE – MARCH/APRIL 2018
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