Portsmouth port expansion plans welcomed by commercial property specialists
COMMERCIAL property specialists have welcomed the sale of land which will give a port the space to expand.
Portsmouth City Council, which owns Portsmouth International Port, has purchased a building on Prospect Road allowing it to grow in the future.
Lambert Smith Hampton (LSH), acting on behalf of a private client, transacted the sale of the former Eberhardt Signs site.Â
Guy Jackson, associate director of LSH's south coast industrial property team, said the sale will boost the city's economy and give the prominent area close to the M275 motorway a new lease of life.
He added: '˜This is a key site at the gateway to the port and we are delighted to have been able to secure the sale of the building to Portsmouth City Council.
'˜The building is in a prominent position off the motorway and it will be great to see it brought back into full use for the benefit of the city.
'˜The port is the lifeblood of Portsmouth's economy and we are pleased to have been able to play our part in its growth.'Â
MMD Shipping Services is set to move in by early 2019.