PORTSMOUTH A GREAT PLACE TO WORK

www.portsmouth.gov.uk

PORTSMOUTH

CITY CENTRE NORTH

1

CITY DEAL (TIPNER)

2

DUNSBURY PARK

3

SOUTHSEA COASTAL SCHEME

4

HOUSING DEVELOPMENT

5

THE HARD INTERCHANGE

6

The UK’s only island city.

Home of the Royal Navy for 500 years.

Top 20 city for growth.

A regional economic gateway with

an unrivalled maritime history.

£3bn investment plan.

9.3 million visitors per year.

7,000 businesses in city.

Birthplace of: Charles Dickens,

Isambard Brunel and Peter Sellers.

Gold-rated university with 23,500

students.

OUR TRACK RECORD – BUSINESS AS USUAL

INTERNATIONAL PORT

- Successful commercial port

(ferries, cruise and cargo).

- Turnover of £16m with net

profit of £3.5m.

- Two thirds market share of

western Channel including

two million passengers.

- Trading successfully since

1975.

STRATEGIC PARTNERSHIPS

- Shared senior management

with Gosport Borough

Council (first unitary and

district combination).

- Shared CFO with Isle of

Wight Council.

- Shared DPH with

Southampton City Council.

- Shared director of ASC and

CCG chief operating officer.

MMD LTD

- Acquired loss-making fruit

and general cargo company

in 2008.

- Strategic acquisition

producing net benefit to

council.

- Turnover £14m.

- Imports most of the bananas

eaten in the UK.

SUPPORT SERVICES

- 83 external payroll clients.

- HR services to all city GPs and CCG.

- Audit service provided to eight local

authorities.

OTHER

- Energy and engineering services to local

authorities/partners including funded solar

installations. Turnover of £2m per annum.

- Advertising rights: five year/£4.2m Emirates

Spinnaker Tower deal.

- In city property holdings rent £7m per

annum.

OUR VISION FOR TRANSFORMATIONAL CHANGE Billions of pounds is being spent on our ambitious regeneration vision for Portsmouth, bringing more growth and prosperity to the people of the UK’s only island city.

The transformational improvement of our proud and historic city is underway and will bring more than 16,000 new jobs, more than 5,000 new homes and a massive boost to the local economy.

We will provide the conditions that will enable people to thrive, and productivity to increase, through exciting multi-million pound development schemes that will help us to achieve our vision for the city.

Transforming the city:

• City deal - £831m scheme for a £50m investment.

• City Centre North - £500m+ scheme for £60m investment.

• Southsea coastal defence scheme - £110m scheme (£12m local investment).

• 100% business rate retention pilot - £14m Solent growth pool (Portsmouth,

Southampton and Isle of Wight).

Transforming the council

• Maximising our property assets:

- Dunsbury Park (£140m investment).

- Wightlink Ferry Terminal (£73m deal).

• Property investment (£180m capital).

• Victory Energy Services Ltd (£6m investment).

• Hampshire Community Bank (£5m investment).

CITY DEAL (TIPNER)

An ambitious development scheme at the gateway to the city establishing Portsmouth as a beacon of growth and opportunity in the Solent region

Millions of pounds of government funding has been released in an historic ‘deal of two cities’ with Southampton which has unlocked land to provide 2,370 houses and more than 3,700 new permanent jobs.

The scheme includes new homes, an expanded park and ride, 65,000 sq m of business space and the opportunity to create a marine and maritime hub.

KEY FEATURES

- £50m deal with Government to close the viability gap.

- Land transfer from MoD.

- Master planning with preference for a super peninsular.

GDV - £831m

CITY CENTRE NORTH

The council has ambitious plans for the city centre, particularly City Centre North.

Identified as a potential strategic site, the city will masterplan the area and play a proactive role in delivering the vision for the heart of the city, stitching the city centre back together.

The realignment of the city centre road is critical to unlock this significant opportunity.

KEY FEATURES

- Council contribution £22.5m towards a £60m infrastructure scheme.

- Proceeding at risk without full funding certainty.

- Planning permission pending and acquisition strategy approved with land negotiations in progress.

- This scheme creates the link between the city deal community and the heart of the city.

GDV - £500m+

DUNSBURY PARK

An award winning 45-acre business park on the London/Solent corridor.

The parkland site next to junction 3 of the A3(M) will generate 3,500 new jobs and millions of pounds in rental income.

Dunsbury is served by a custom-built link road, 9MVA+ high voltage power and superfast Broadband and is already home to the global headquarters of international clothing brand Fat Face.

KEY FEATURES

- Direct development by the council.

- Site outside the council’s administrative area.

- A combination of speculative development and build-to-suit units.

- Business Park of the Year at the South Coast Property Awards 2017.

- Return on cost 25%

GDV - £140m+

SOUTHSEA COASTAL SCHEME

A major engineering project that will stimulate further regeneration by unlocking investment opportunities as well as enhancing Portsmouth’s seafront and securing Southsea’s future.

Our vision for Southsea will create a more vibrant place for residents, businesses and visitors alike, protect the community and preserve the area’s unique heritage.

KEY FEATURES

- Forecast of ten million visitors per annum.

- Hosts major events including: Great South Run, America’s Cup World Series and Victorious Festival.

- Scheme protects against £2.2bn worth of damages (700 businesses and 4,100 homes).

GDV - £110m

HOUSING DEVELOPMENT

As a council we are already building hundreds of brand new high quality, energy efficient affordable and social homes to ease housing waiting lists and generate rental income.

This work is part of the most ambitious council home building project in Portsmouth for a generation.

GDV - £50m+

THE HARD INTERCHANGE

An impressive new transport hub gateway to the city and the main entry point to Portsmouth for more than 700,000 people every year.

Bus, train and boat services come together in an ultra-modern facility which also enhances views of Portsmouth globally important historic warships.

GDV - £11.8m

OUR HIGHLIGHTS

Successful port owner since 1975.

Increase in business rate base of 12%

since 2013/14.

Contribution towards total savings

from additional income:

- 2017/18 = 16%

- 2018/19 = 36%

Investing in creating continuing

development opportunities.

Significant strategic partnerships with

other local authorities.

Transforming poorly performing

property assets.

Property developer and investor.

Joint venture energy supplier.

Community bank major shareholder.