Commercial hub reopened after £1m investment

CEREMONY Mayor of Fareham Susan Bayford at the opening
CEREMONY Mayor of Fareham Susan Bayford at the opening
Poundworld is planning to close about 100 stores. Picture: Anna Gowthorpe/PA Wire

Poundworld to close about 100 stores putting more than 1,500 jobs at risk

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COMPANIES looking to expand in the Fareham area now have a new building to try out.

The two-storey Spinnaker House in Fareham has been reopened after a £1m refurbishment.

The building, a five-minute walk from the town centre, was stripped back to a shell before new fixtures and fittings, electrics and heating and cooling systems were installed.

Russell Mogridge, the business space director at commercial property consultancy Hughes Ellard, based in Fareham, said: ‘Spinnaker House is the first of its kind in the town to benefit from a sizeable investment since the global credit crunch in 2008 and is likely to appeal to a single occupier looking for a national or regional headquarters.

‘The £1m refit has effectively created a brand-new office, with the investment decision based on future confidence as the UK economy starts to recover.

‘We’ve already had several enquiries from growth companies keen to consolidate operations under one roof as their current satellite offices don’t easily lend themselves to greater efficiencies.

‘We’re also seeing a resurgence in office sector activity as companies sitting on ‘war-chest’ cash finally open their wallets after deciding that the worst economic slump on record is now firmly behind them.’

The mayor of Fareham, Susan Bayford, opened Spinnaker House with the cutting of the ceremonial red ribbon.

Spinnaker House was built in the 1980s and fully occupied until two years ago.