Portsmouth put on world stage to help woo more developers

COMING SOON Latitude, the new office building planned at Lakeside in North Harbour
COMING SOON Latitude, the new office building planned at Lakeside in North Harbour

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REPRESENTATIVES from across the Solent have attempted to woo investors from around the world to help fund Portsmouth’s regeneration.

Portsmouth City Council, along with organisations from across the UK, is currently taking part in the three-day Mipim property conference in central London to help promote the city.

Projects such as Ben Ainslie Racing’s America’s Cup bid and the redevelopment of Brunel House into what has been dubbed the ‘Portsmouth Shard’ have been used to entice potential private sector backers.

Kathy Wadsworth, strategic director of regeneration at the city council, said: ‘We have got a huge regeneration programme and we have been very successful with the City Deal getting some funding for the city from the government.

‘Last year we got over £90m to invest in regeneration but we need private investment to build these things and that is why we are here.

‘I hope that by the end of the event, we will have made contacts with developers who will consider investing in Portsmouth.’

Among the businesses at the nationwide conference was Highcross, which owns 1000 Lakeside in North Harbour, which yesterday announced the next phase of the business park.

A 25,000sq ft office building named Latitude was unveiled for the site.

Russell Mogridge, director at Hughes Ellard which is the joint agent for the new building, said the new building should be complete for businesses to move into by mid-2016.

A stand marketing the city was set up close to the entrance of the conference hall.

Around 4,000 people are expected to visit the event over the three days.

A consortium, set up by Business South and made up of organisations including the city council, Bouygues UK construction, and Solent Local Enterprise Partnership have been holding events to promote the city.

Sally Thompson, chief executive officer of Business South, said: ‘Mipim UK represents a great opportunity to showcase all that makes our region a great investment prospect.’