Portsmouth: Not-for-profit finance provider Parity Trust takes office at One Port Way

Not-for-profit finance provider Portsmouth Area Regeneration Trust Group (PART), which supports homeowners with secured loans and mortgages, has moved into new offices at Port Solent Marina, Portsmouth.

The group, which trades as Parity Trust, partners a number of local authorities to provide access to finance for home-owners requiring repairs and adaptations as well as offering its own financial products and services.

The organisation has taken 1,305 sq ft of office space and associated parking at One Port Way in a deal secured by the office agency team at the South Coast offices of commercial property specialists Lambert Smith Hampton (LSH), moving from previous accommodation at 1000 Lakeside North Harbour. The space will be leased from Northwood Regional UK, which owns One Port Way among its extensive portfolio of properties along the South Coast. LSH acted for Northwood in the transaction.

The move leaves just one suite of 6,730 sq ft left at One Port Way, which could be split to offer further small suites or let as a whole. Northwood complete all space to an exacting specification, which to date has proven extremely popular in attracting businesses to the building.

Andy Hodgkinson, director of office agency at LSH’s South Coast offices, said: “We are very proud to represent Northwood and delighted to welcome Parity Trust to One Port Way, enabling it to continue providing its much-needed services from a modern, convenient location. As quality office space remains at a premium, particularly in and around Portsmouth, we are experiencing continued demand for accommodation in a facility of this calibre.”

Northwood Director Nick Turner said: “When we took the decision to invest in this building and modernise the specification we did so with confidence in the product and the location and this is proving to be justified.”

SJ Davis chief executive of Parity Trust said: “One Port Way supports our requirements perfectly as we continue to meet the needs of those who benefit from an alternative, affordable and flexible finance option. This move complements our strategy as we look forward to supporting more homeowners and develop our position of strength in today’s financial market.”

One Port Way is one of two detached office buildings, one of which is wholly occupied by Ageas Insurance. It acts as a gatehouse to Port Solent Marina Village, which is home to an 808-berth marina, retail outlets including Snow & Rock, restaurants such as Casa Brazil, Pizza Express and Zizzi and leisure outlets including David Lloyd Leisure and Odeon Cinemas.

Lambert Smith Hampton, which has offices in Fareham and Southampton, is a multi-award-winning commercial property specialist and has the largest transactional team in the Solent region, with 13 specialists working in the industrial property, office space, retail, leisure and investment markets. Hughes Ellard are joint agents for One Port Way with LSH.