Laura Sharman 02 March 2018

New retail park to generate £1m a year for council

A new retail park in Portsmouth will generate £1m per year for the city council in rental income.

Portsmouth Retail Park is the eleventh purchase in the council’s property investment portfolio, which generates £6.6m per year for council services.

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.

‘The added bonus of Portsmouth Retail Park is that it will boost jobs and the local economy at the same time as bringing in £1m every year in rental income. This is money that will make a real difference at a time when councils continue to face funding challenges.’

The council is set to make further property purchases in the coming months.

Addressing regional inequalities  image

Addressing regional inequalities

Andrew Borland, Chief Innovation Officer at the Virtual Engineering Centre (VEC), University of Liverpool discusses the importance of levelling up for growth.
SIGN UP
For your free daily news bulletin
Highways jobs

Recovery Worker Substance Misuse

Essex County Council
£30931 - £35362 per annum + + 26 Days Leave & Defined Benefit Pension
Recovery Worker Substance MisusePermanent, Full Time£30,931 to £35,362 per annumLocation
Recuriter: Essex County Council

Principal Transport Officer

Old Oak and Park Royal Development Corporation
£63,112 per annum
leading the capital’s largest new regeneration project. Brent Civic Centre (32 Engineers Way, Wembley, HA9 0FJ).
Recuriter: Old Oak and Park Royal Development Corporation

Senior Occupational Therapist

Essex County Council
£43477 - £52302 per annum + Flexible Working, Hybrid, CPD, Gov Pension
The role will be responsible for supporting adults to develop their abilities to enable them to live as independently as possible. This may include England, Essex, Harlow
Recuriter: Essex County Council

Director of Commissioning and Performance

Northumberland County Council
£100,157 - £109,081
We are looking for an individual to help us achieve excellence in adult social care in Northumberland. Northumberland County Council, Morpeth, United Kingdom
Recuriter: Northumberland County Council

Payroll Manager

London Borough of Richmond upon Thames and London Borough of Wandsworth
£46,014 to £55,758 per annum
About the role You will have a set of on-going responsibilities which will vary depending on the needs of the team. The responsibilities include (but not limited to) to
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth
Linkedin Banner

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.