Mark Catlin believes the first marker has been laid in the potential development of Fratton Park.
Pompey have acquired a 30-year-plus lease on the former Beneficial Foundation building in Anson Road.
It was for a six-figure sum and there has been no borrowing involved in the purchase of the propertyMark Catlin
Adjacent to the North Stand car park, the agreement creates land opportunity should the Blues opt to redevelop their ground.
It is unconnected to ongoing negotiations for Michael Eisner’s takeover.
And chief executive Catlin believes the six-figure Anson Road land deal is crucial.
He said: ‘Whatever the outcome of the voting on the Michael Eisner offer of investment, the club carries on regardless and this is a vitally-important strategic acquisition of land adjacent to our current footprint.
‘We have not got anything specifically planned for this at the moment, but in the short term it gives us immediate breathing space.
‘Should the club take the route to stay at Fratton Park in the mid to long term, it will give us a lot more opportunity in the scope of what we can do at the stadium.
‘It was for a six-figure sum and there has been no borrowing involved in the purchase of the property.’
Pompey have still to decide how the premises will be used in the short term.
Catlin added: ‘We previously rented part of it when we came out of administration, with our Academy staff based there before moving to Roko.
‘In the short term we are reviewing a number of options for the property, which includes using it as it currently is, possibly expanding into a car parking space or redevelopment of that building in isolation.
‘There are a number of options and they will all be considered by the board in due course.’