First step to find Portsmouth shipyard tenants nearly complete

New tenants are being sought for the BAE site in Portsmouth
New tenants are being sought for the BAE site in Portsmouth
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THE first stage in the marketing of Portsmouth’s shipyard ends next week.

Lambert Smith Hampton, the company chosen to find potential new occupiers of the shipyard, says it has shortlisted ‘three or four’ companies that are serious contenders.

British and international marine-orientated businesses, household names and smaller ventures have contacted the company to register an interest in using the site, which BAE Systems will be using until the end of the year.

Businesses have until June 30 to register an interest with LSH before the next stage of the process begins.

Robin Dickens, a director at LSH in Fareham, said: ‘We’ve had considerable interest in the shipyard and conducted site tours with a number of blue-chip businesses over the past couple of months.

‘The site provides a complete solution for businesses in the shipbuilding, heavy marine or generation engineering sectors.

‘Not only does it benefit from transportation links by land and sea but it also has access to a highly-skilled local workforce in shipbuilding and aircraft carrier construction.’

The company has already set up an online prospectus, for what has been branded Shipyard Portsmouth.

Lambert Smith Hampton will now complete its shortlist on behalf of the Ministry of Defence’s property and service provider, the Defence Infrastructure Organisation, .

There will then be more in-depth discussions about proposals and a decision on how viable each contender’s plan is.

As the yard is part of HM Naval Base, security and compatibility with the Royal Navy are among the areas that will be explored.

The process will take two to three months and will also be carried out by LSH.

Once the shortlist has been reduced to one company, negotiations will begin.

The shipyard will not be available for use by the new firm until the first quarter of 2015.

Lambert Smith Hampton was chosen as the marketing company earlier this year.

It comes following BAE Systems’ announcement to stop shipbuilding in the city last year with the loss of hundreds of job.

Parties interested in taking over the yard can contact LSH by calling 01489 579 579 or 020 7198 2000.