Portsmouth leads South Coast Metropole

Portsmouth has been named tenth fastest-growing large city in the UK, ahead of Southampton, Brighton, Birmingham and Manchester*. The city's GVA (gross value added) had increased more than 73% in the past decade, which is in no small part due to developments such as Gunwharf Quays which have brought renewed vitality to the city.

A separate report by King Sturge** has show that the occupier market across the South Coast Metropole has remained buoyant across all sectors, despite the uncertainty of the property market. The South Coast Metropole zone, incorporating Southampton, Portsmouth, Bournemouth and Poole, is identified as an area with a structural under-supply of properties available, which is fuelling the continued demand.

Portsmouth's economy has been boosted by the renewed interest in the ship-building industry, with the contracts for part of the construction of two new naval aircraft carriers awarded to VT Group in Portsmouth, which has already brought 200 new jobs to the area. The go ahead has now been given for the Northern Quarter retail development in the centre of the city on the site of the former Tricorn Centre, all signs that the area's regeneration is set to continue.

Given these factors, the South Coast region continues to witness activity across its commercial, retail and residential sectors. Despite the residential market being much tougher than in recent years, the poor supply of good quality homes across the region is keeping things moving. The King Sturge report highlights that at residential developments in strategic locations on the South Coast sales are still being achieved, as long as they score highly on location, parking and affordability.

Gunwharf Quays is one such strategic South Coast development that offers the right combination of prime location and surrounding amenities. As well as its luxurious residential properties, Gunwharf Quays is one of the South Coast's best shopping and leisure destinations, so purchasers are buying into a whole lifestyle. The development has completely regenerated this area of Portsmouth and put the city back on the map.

Currently for sale, No.1 Gunwharf Quays is the final piece of the development. This landmark 29 storey tower is the tallest residential building on the South Coast, affording panoramic views over The Solent across to the Isle of Wight. Standing at nearly 100 metres tall, it accommodates 141 one, two and three bedroom apartments including two exclusive penthouses, with secure underground parking and concierge services.

The development has a prime situation, with the waterfront attractions of Gunwharf Quays right on the doorstep, offering a wide range of stylish shops, bars and restaurants. Transport links are excellent: Portsmouth Harbour station is just a couple of minutes walk away, offering fast trains into central London, while Portsmouth is close to the M27 for convenient access to the major road network.

Robin Rixon, Sales and Marketing Director for Berkeley Homes at Gunwharf Quays comments: "Of the South Coast Metropole cities, Portsmouth has been pinpointed as having the greatest potential for further growth. With the development of flagship schemes such as the hugely successful Gunwharf Quays development, the city's renaissance has already come a long way. Portsmouth is now one of the leading locations on the south coast in terms of high quality new homes, leisure attractions and long term investment potential."

Prices at No.1 Gunwharf Quays start at £155,00 for a studio, £180,000 for a one bedroom apartment, £250,000 for a two bedroom apartment, £410,000 for a three bedroom apartment and £1.75million for a penthouse.

For more information, log on to Gunwharfquays.co.uk.

* Report by accountancy group UHY Hacker Young ranked growth of UK's 30 largest cities over the last 10 years

** King Sturge ‘South Coast Metropole 2008' report