JV to bring forward redevelopment of Tricorn site
Proposals are going to Portsmouth council’s cabinet on February 5 to form a new company as a joint venture between the authority and Delancey to look at potential development of land north of the city’s Commercial Road shopping area.
The main focus of the plan is the site of the former Tricorn Shopcentre where the council owns the freehold and Delancey a long-term lease. Should the plans go ahead both organisations would transfer their land interests to the new joint venture.
Developing the former Tricorn site has the potential to be a catalyst for further regeneration in the wider city centre area and possibilities would be reviewed for future uses of the area between Cascades shopping centre, Portsmouth Naval Base and Sainsbury’s.
Cllr Ben Dowling, the council’s cabinet member for planning, regeneration & economic development, said: “We are committed to delivering a culturally led regeneration for the city centre and the city as a whole. This joint venture with Delancey is a major step forward in bringing our ambitions for city centre north to life. It’s also important that we will see the former Tricorn site brought back into active use before the end of the year ahead of comprehensive redevelopment to link in with Commercial Road and the surrounding areas in the future.
Picture: Alexander Booth