Portsmouth City Council has submitted a planning application for new industrial and enterprise units in Hilsea Industrial Estate.
The Council is looking to boost local business and jobs with the 21 units, and a restaurant/café, on the old AE Hadley shopfitters site, in Limberline Spur.
Subject to planning permission, construction will start later this year and Councillor Luke Stubbs, cabinet member for planning, regeneration and economic development, said he hoped the units would be completed next Autumn.
“This is a great chance to give a real lift to local businesses and to create jobs, both in the units themselves and in the construction work,” Cllr Stubbs said.
“We have demolished an old facility, that had come to the end of its usable life, and we will replace it with bespoke, modern units which will give local businesses the opportunity to flourish and for which there is a huge demand in this area.
“At the same time, the scheme will also generate Council revenue to benefit the tax payer.”
The redevelopment of the Council owned land, in a busy, established freight and distribution location, will include allocated parking, bespoke fit-out and mezzanine options and extra business services.
The project will cost an estimated £4.25m. The money for the scheme will be borrowed and the rental income generated by the site will exceed the cost of servicing the additional debt.
