There remains a high degree of confidence in the market in the region in the face of tough economic times. This is particularly true of Portsmouth where the council is pushing on with consultation about its substantial improvements to the city and a new organisation has brought business people into the equation of regeneration and pushing new industries. Lakeside provides the evidence that a bold approach to new development in Portsmouth can pay off.
This is the time to have ambitions and be ready for the period when the economic straight jacket is eased. Yet we also see an active industrial market in the region where there is a growing shortage of large industrial units and prime space. Put simply, there is a need for new development. That also applies to offices where there is also a shortage, though plans by such as Cumberland Commercial are coming through. But they need pre lets, which puts a bit of a damper on them. What is gratifying is to see that the impact of the Olympic Games on Weymouth could be long term with DJ Property’s plans for new development and a business park. It is worth remembering that one of the goals of the infrastructure spending on the Games was to boost regeneration