Landowners of Portsmouth’s Northern Quarter — the area of the city where the Tricorn Centre stood, which was due to be revived with shops, a leisure hub, and housing — have released a statement about their future plans following Portsmouth City Council’s proposal to terminate a development agreement for the site.
A spokesperson for real estate investment firm Delancey, on behalf of their clients, said: “As a major landowner in the centre of Portsmouth, we are committed to working with the council and believe their proposed decision to end the old agreement will allow a fresh and relevant approach to the scheme.
“We have already begun discussing new plans with the leader of the council and are confident a scheme can be delivered, which will regenerate the site and respond to the fast-changing make-up of the retail market, for the benefit of the Portsmouth community.”
Portsmouth City Council leader Councillor Donna Jones said that the proposed termination of the development agreement had been a long time coming.
She said: “I want to see a Plan B with bigger ideas and aspirations brought forward.
“The scheme fell over in 2008 when the recession hit. I feel now, that with my vision for the city, with the America’s Cup and a five-star hotel, and the Emirates Spinnaker Tower branding, we need something bigger and this is an opportunity to achieve that.”
The Northern Quarter site was due to take up around five acres of land and adjoin to the existing Cascades Shopping Centre, extending the retail thoroughfare of Commercial Road and enhancing the city centre’s shopping offering.