Number one for aerospace defence with good yields for buy-to-let investors
Portsmouth’s history lies in maritime industries but today it boasts seven of the top ten global aerospace companies.
Astrium, the global leader in aerospace and defence, is the leader in the Europe and number three in the world. Boeing, Lockheed Martin, Northrop Gruman, BEA systems, GE Aviation and Selex Galileo all operate from this region.
Portsmouthis located 64 miles south-west of London and 19 miles south-east of Southampton. It is the UK’s only island city and has a population of 209,166. It is the only city with a greater population density than London. Housing prices are well below both the local and the national averages, 49% and 46% respectively, and supply is short.
Portsmouth or ‘Pompey’ as the city and its football club are both known locally, has a long history of supporting the Royal Navy which has been an integral part of the city since 1194. It is currently home to nearly two-thirds of the navy’s surface ships.
The navy has identified land and buildings surplus to base requirements which may be released, to provide income to the Ministry of Defence. This could provide space for core sectors such as advanced manufacturing and the marine industry as well as hundreds of homes.
Portsmouth has consistently ranked in the top 10 buy-to-let hotspots by rental yield in the past few years. In 2014, HSBC ranked Portsmouth 8th highest in the country with an average annual yield of 6.5%. That means Portsmouth property investment is ideal for you if you’re looking to invest in a property situated in a major city.
Economy & Employment
Portsmouth is the leader in space sector employment for the UK, & is the 2nd busiest ferry port after Dover.
Approximately 34% of Portsmouth’s employees are in public administration, education or health jobs.
Seven of the worlds ten largest aerospace businesses are based here. There are more people employed in the space sector in Portsmouth than anywhere else in the UK.
A tenth of the city’s workforce are employed at Portsmouth Naval Dockyard, which is directly linked to the city’s biggest industry: defence.
The headquarters of BAE are located in the city along with the European headquarters of Zürich Financial Services, Northrop Grumman and IBM. Plans for Dunsbury Hill Farm Business Park have been approved. The site will specialise in electronic engineering and will create up to 3,500 jobs for Portsmouth and Havant residents.
Portsmouth has £1.8 billion worth of regeneration planned for the city.
Portsmouth will be the home port of the two new Royal Navy aircraft carriers HMS Queen Elizabeth and HMS Prince of Wales, ordered in 2008. Currently under construction, these ships will secure the base’s future for the next 40 years and revitalise shipbuilding in the city.
Building has begun on a £7-million transport hub which is part of the city’s wider £1.8 billion regeneration vision. This investment includes a £300-million city centre scheme as well as a £600 million City Deal, £150 million development of the seafront and Mary Rose museum among other plans.
Portsmouth is in the midst of a housing boom and with many disused naval and commercial sites being converted into residential properties. Kingston prison has just been sold to property developers for residential development.
Air: Easy access to Southampton Airport, situated in the Borough of Eastleigh, which is approximately 20–30 minutes away by motorway.
Rail: There are two South West trains routes serving the area, one to London Waterloo, and another to Southampton Central, from there Birmingham and Manchester are easily attainable.
Road: The A3 links Portsmouth with London. Much traffic uses the M27, M3 and A34 providing access to other major routes to the Midlands and the North of England.
Bus: First Hampshire Dorset and stagecoach operate the local services, with National Express running services from Portsmouth to London, Cornwall, Bradford, Birkenhead and Eastbourne to name a few.
Schools 7primary, 7 secondary, 3 independent.
Notable institutions include: Portsmouth High School for girls aged 3 to 18, it delivers outstanding results.
Mayville High School,co-educational school from 2 to 16, it is renowned for its excellent provision for mild to moderate dyslexic pupils.
In 1818 John Pounds began teaching the working class children in what became the country’s first ‘ragged school,’ aiming to provide education to all children regardless of their ability to pay, it was keenly supported by Charles Dickens who was born here
Higher Education: The city’s University of Portsmouth has notable achievements in law, mathematics and biological sciences. Several local colleges also have the power to award HNDs including Highbury College and Portsmouth College, which offers a mixture of academic & vocational courses.
Shops & Leisure
Shopping: The City Centre is home to the Cascades Shopping Centre, with major high street retailers being present, along with three supermarkets,
Gunwharf Quays is an retail destination with 90 outlet stores and 30 restaurants, bars and cafés located on a restored quayside.
Leisure: Gunwharf Quays also plays host to a 14-screen Vue cinema, 26-lane Bowlplex Bowling Alley, Aspex art gallery, Grosvenor casino, a Holiday Inn Express and a Tiger Tiger nightclub.
Just to the south of the city’s Guildhall is Guildhall Walk, a street which is known for its bars and clubs, such as The Lyberry, Skye Bar, Astoria and Popworld.
Tourism is a growing sector of the economy, with the harbour and the Spinnaker Tower among the largest attractions. There are also three theatres with a range of performance offerings.