The Lib Dems are right to criticise the city council for investing in a property portfolio unrelated to Portsmouth.
There are plenty of sites that it owns which could generate high returns both of capital and revenue.
For example the City Museum stores site on the corner of Museum Road is allocated for 75 residential units which would help to relieve the housing crisis and bring millions into the council budget. But they just sit there doing nothing.
The millions from that could be reinvested in other worthy projects such as the Havant Street car park site just behind The Hard, also owned by the council.
It could accommodate a three-level car park, several floors of housing and a landmark hotel with fantastic views over the harbour. It could even incorporate a Sherlock Holmes Museum as part of the hotel.
These are just two, off-the-cuff, examples of council property resources which the council has failed to maximise, including under the previous Lib Dem rule.
We are now in an era when councils will have to generate their own revenue, and they should work on their own property resources first, before taking the easy option of buying assets in other parts of the country.
Sennen Place, Port Solent