Portsmouth City Council is looking to boost local business by building new industrial and enterprise units in Hilsea Industrial Estate.
The Council intends to start work this summer on around 25 new units, on the old AE Hadley shopfitters site, in Limberline Spur.
Councillor Luke Stubbs, cabinet member for planning, regeneration and economic development, said: “This gives us a great chance to boost local businesses and jobs by getting rid of an old facility, that has come to the end of its usable life, and replacing it with something for which there is a huge demand in this area.”
The redevelopment of the Council owned land will cost an estimated £4.25m and is set to be completed in 2016. The money for the project will be borrowed and the rental income generated by the site will exceed the cost of servicing the additional debt.
