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Gunwharf Quays: Contributing to the economic, social and environmental success of Portsmouth

Gunwharf Quays in Portsmouth has published its first Impact Report which outlines how the shopping centre has contributed to the economic, social and environmental success of… View Article

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Gunwharf Quays: Contributing to the economic, social and environmental success of Portsmouth

Gunwharf Quays in Portsmouth has published its first Impact Report which outlines how the shopping centre has contributed to the economic, social and environmental success of the local Portsmouth community.

The retail and leisure hub is home to more than 90 retailers and 30 restaurants, coffee shops and bars, all set along the waterfront. The destination incorporates several original naval buildings, including the iconic Grade II listed Vulcan building, which has been beautifully restored and now houses an art gallery, a restaurant, and various high-end residential properties.

As a major part of the Portsmouth community, the outlet’s positive impact continues to be felt beyond just its role as a shopping and leisure destination – since 2019, Gunwharf Quays has created over £341,000 in social value and supported 99 local residents through its education and employment programmes. A significant amount of social value has also been generated through support given to local charities, including free space given to community organisations Tall Ships, Wet Wheels and through the Gunwharf Quays Academy.

Gunwharf Quays continues to play an active role in helping shape a strong local economy – it employs more than 2,300 people across its retail and leisure facilities.

As part of the outlet’s ongoing commitment to supporting the local community, empowering local initiatives and fostering positive change in the area – funded by Gunwharf Quays’ owner, Landsec – the retail destination has recently launched Landsec Futures, a £20m social impact fund which is dedicated to enhancing social value to the communities it serves.

Alongside internships and community grants, the Landsec Futures initiative will also deliver two three-year employability partnerships with local charities, including Ahead Partnership and Pompey in the Community. Ahead Partnership is leading the charge in supporting people from underrepresented backgrounds into employment and has worked with Gunwharf Quays since 2018 to deliver employability-led programmes for local people to access the broad range of careers in the real estate industry. As part of this, the ‘Made in Portsmouth’ challenge inspires young people to engage with the industry.

Gunwharf Quays’ long-standing partnership with local charity, Pompey in the Community, provides employment opportunities for school leavers from underrepresented backgrounds. What’s more, Gunwharf Quays is funding a three-year real estate bursary for one of the University of Portsmouth’s students.

Among the retail destination’s commitments to reducing the impact it has on the environment, Gunwharf Quays has joined more than 1,000 businesses worldwide and committed to become a net zero carbon business by 2040. As part of its net zero transition investment plan, rooftop solar panels will be installed at Gunwharf Quays which are estimated to deliver 107tCO2e of emissions reduction annually – the equivalent of around 65 return trips from London to New York. The outlet has already achieved an energy intensity reduction of 13% since 2019/20.

What’s more, new research from Landsec revealed that over the course of 10 years, brands in a sustainable retail destination could see revenues increase by up to 13%, compared to those in a traditional retail destination1. Overall footfall for sustainable retail destinations could see a 6% increase, leading to a potential boost of up to £100m for local economies.

Yvonne Clay, Centre Director at Gunwharf Quays, said: “As a retail destination, we constantly strive to ensure we deliver a sustainable future which meets our customers’ expectations and create added value for our local community, customers, colleagues, and partners.

“Our purpose sits at the heart of everything we do, in the way we create sustainable places, realise potential and serve a vibrant community.”

To view the full Landsec Impact Report, please visit: https://landsec.com/impact-report-2022

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