Developed utilising public sector grant funding in 2002
Operational financial risk taken by private sector with public sector control of gateway policy
18 months of demonstrable high occupancy (circa 90%); increased revenues; and comparable financial returns
In early 2009 the shareholders of Portsmouth Technopole, with the tacit support of the principal public sector stakeholder in the project, Portsmouth City Council, agreed to appoint a new management regime under Oxford Innovation. The principal aim of the new team was to re-engage with the local economic agenda by creating an environment within Portsmouth Technopole to help young entrepreneurial companies to thrive. The strategy was clear; to improve performance with a view to delivering long term, sustainable market-benchmarked property returns.
Creating an improved management structure and better business processes with a proper focus were key to achieving this strategy. Portsmouth Technopole was re-established at the centre of Portsmouth‘s economic future and over a short period of time has been successful through a public sector engagement programme, hosting local events and facilitating outreach initiatives with the local business community.
Through Oxford Innovation, Portsmouth Technopole is now producing a sustainable high level of occupancy (circa 90%), rising revenues and is delivering property returns consistent with the Portsmouth market commercial office space property investments. This has been achieved whilst adhering to the original principles and ideals of stimulating local economic growth.
For more information, please visit our website www.portsmouth-technopole.co.uk