PORTSMOUTH has been named ‘city of the year’ at a prestigious awards evening.
The city council picked up a hat trick of awards at the South Coast Property Awards night on Thursday.
In addition to scooping the top prize of the night, the council also bagged corporate real estate team of the year with ambitious project Dunsbury Park also named business park of the year.
The awards were collected at the glitzy event in Southampton’s Ageas Bowl – with BBC presenter Jeremy Vine on hosting duties.
Councillor Donna Jones, leader of the council said: ‘To win three of the most important awards at a high profile event like this is a great recognition of the fact that our property investment strategy is robust and sound.
‘We are leading the way nationally in terms of income generation from property and this is recognition of the work we are doing to use our valuable assets to bring in money for the local services that matter most to local people.
‘We know the government’s revenue support grant is under significant pressure, and that’s why we must ensure that we are a forward-thinking council with a proactive appetite for income generation and business growth.’
The council has spent £108m through borrowing on purchasing rentable commercial properties across the UK.
According to the authority, the portfolio brings in just less than £6.6m per year in rent from the ten properties, delivering £4.3m in profit.
Dunsbury Park is a new business park being built on council-owned land next to Junction 3 of the A3(M) that is expected to create 3,500 jobs.
David Murray, the awards’ chairman said: ‘Congratulation to Portsmouth. Donna Jones and her team should be rightly proud of their achievements.’