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Portsmouth Overview

Portsmouth - a modern and dynamic centre attracting visitors and investment  

A city that in 1994 celebrated the 800th anniversary of receiving its charter from Richard the Lionheart is undergoing a major transformation. Already world renowned as the home of the Royal Navy and an international visitor destination is now becoming a cosmopolitan business, leisure and residential waterfront location.  

Now no longer just a dockyard city, Portsmouth is a modern and dynamic city that offers a prime location for industry, commerce, leisure and pleasure. Today the city has a broad employment base with the largest sectors being engineering, manufacturing, tourism, retail and leisure, business services and public administration. The results are that unemployment is at a thirty year low and now 100,000 people work in the city. 
 
Still world renowned as the home to the Royal Navy, Portsmouth is now also home to leading edge companies such as IBM UK, Pall Europe, Raymarine, Astrium and McLaren Composites. The result is that Portsmouth has, as a percentage, significantly more people in high tech employment than the national average.
 
The city of Portsmouth is also physically changing with the £250 million Gunwharf Quays scheme - the UK's premier waterfront retail, leisure and residential development - and the £80 million Renaissance of Portsmouth Harbour Landmark Millennium Project seen as the catalysts for the wider investment in the city's infrastructure, amenities and commercial development opportunities.   This includes the £500 million Northern Quarter redevelopment that will significantly improve the city's retail offer.

Other significant commercial development schemes include the redevelopment of the ex-Johnson and Johnson premises in Northarbour and with other schemes in the pipe-line or nearing completion Portsmouth will continue to offer new opportunities for occupiers.
  
With almost 50kms of waterfront Portsmouth has always provided a unique quality of life and a diverse range of attractions and amenities for its businesses and residents. However as a place to live the offering has been significantly enhanced by penthouse, town house and apartment developments at Port Solent Marina, Gunwharf Quays and a number of ex-Navy sites. The result is the city now offers a complete range of residential opportunities and is featured in the housing supplements of the weekend broadsheets as an attractive place to work, rest and play. However in house price terms it remains a cost competitive south east location with average prices lower than other major business locations. 

Portsmouth also has a high profile as a location for major events hosting a stage of the Tour de France, the Great South Run and the D-Day 50 commemorations. However it has always been well placed as a sailing event location with its harbour facilities and waterfront public viewing areas. With new bespoke facilities at Gunwharf Quays and new waterfront promenades Portsmouth has been chosen to host a number of high profile yacht races and marine related events including the International Festival of the Sea, the Times Clipper Round the World Yacht Race, the Cutty Sark Tall Ships Race, Global Challenge and the UK stop over for the 2005/06 Volvo Ocean Race.