Trafalgar Wharf, the marine supercomplex on the ex-high-security VT Halmatic site, has opened a new front in the battle against the recession by bringing a large-scale office complex onto the market.

The site has been attracting industrial and marine engineering customers, but its latest move has seen a part-demolished 14,000sq ft office building brought back to life, creating the first lot of office space on site.

'VT vacated it in 2004 thinking it would be demolished, and they left it in a complete state,' said managing director Jonny Boys. 'They ripped out light fittings, took the locks off doors, the lot. I think they said to staff, "You're quite welcome to take anything of value home with you".'

But despite having just completed renovations, the building has already garnered so much interest that 10 per cent has been earmarked for occupation, and the owners expect 50 per cent to be snapped up in the next six months.

One of the more unexpected draws was the arrival in February of a yoga studio next to the current office block.

Mr Boys said: 'I'm not into yoga myself, but if you are, I think it's quite appealing to have it there on tap, as it were.' He added: 'If the rest of the property market is moaning, we're doing extremely well and are happy. But at the same time it doesn't come easily, you've got to work at it.'

Gerald Vernon-Jackson, leader of Portsmouth City Council, welcomed the development. He said: 'This is good news for Portsmouth. If there is another good office space going up it means more jobs in the city.

'Maritime industry is hugely important to the city, so this is a sensible move. In the past people tended to go to places like Whiteley or Southampton with things like this; it's good we are attracting them to Portsmouth now. Having good, high-quality office space in Portsmouth will help the economy here and attract firms to the city.'


DEFYING THE DOWNTURN

Since Christmas, a range of firms have set up shop at Trafalgar Wharf in defiance of the turbulence in the marine market.

Recent occupants include London-based Kings Marine, the inboard motor specialist, which chose Portsmouth for its new south-coast branch, alongside Evolution Powerboats and Boat Mate valeting.

BVT is scheduled to abandon the site at the end of the month and relocate to Portsmouth dockyard.

One of the most hotly anticipated developments is the completion of work on an industrial crane, capable of lifting 1,000-tonne, 200ft boats, due to be ready in six weeks.