Ceremony marks handover of Portsmouth Retail Park
Simons Group officially handed over the Portsmouth Retail Park to its owner, Portsmouth City Council, at a ceremony which took place despite the wintry weather.
The development in North Harbour, will bring in £1m per year for Portsmouth City Council in rents collected from international retail tenants including Decathalon, Subway and Costa. The money generated by the project can be spent on local services.
Portsmouth Retail Park's first tenants can now start fitting out their units at the brand new £16.2m facility, on Southampton Road and it is hoped that every unit will be open to the public in the next couple of months.
Simons Group chief executive Tom Robinson said: “We’re very proud of this project and delighted to hand it over to Portsmouth City Council. We wish the council and all of the tenants much success for the future and hope this new addition to the city will be both profitable for stakeholders and an enjoyable experience for the residents of Portsmouth.”
Leader of the council Cllr Donna Jones said: "Our property investment strategy is all about generating money for the local services that are most important to local people so for us to be able to find the opportunity for such a strong investment so close to home is fantastic news for us and for the people of Portsmouth."