Landsec proposes new phase of investment at Gunwharf Quays to boost footfall and attract premium global brands

Landsec proposes new phase of investment at Gunwharf Quays to boost footfall and attract premium global brands

(IN BRIEF) Landsec has submitted plans to redevelop the Waterfront at Gunwharf Quays in Portsmouth as part of a £45 million investment to enhance the destination’s appeal and performance. The project, marking the centre’s 25th anniversary, includes expanded waterfront terraces, upgraded public spaces, and improved accessibility while preserving the historic Old Customs House. The redevelopment builds on recent improvements and aims to increase footfall, extend visitor dwell time, and attract new retail and dining brands. Strong performance data, including a 5.7% rise in footfall compared to a national benchmark of 0.2%, supports the investment strategy. Subject to approval, construction is expected to begin in 2027, further strengthening Gunwharf Quays as a leading UK outlet and leisure destination.

(PRESS RELEASE) LONDON, 23-Mar-2026 — /EuropaWire/ — Landsec has submitted a planning application for the redevelopment of the Waterfront area at Gunwharf Quays in Portsmouth, as part of a broader £45 million investment programme aimed at enhancing the destination’s position as a leading retail and leisure hub in the UK.

The proposal coincides with the 25th anniversary of Gunwharf Quays and represents the next phase in its ongoing transformation. The redevelopment is designed to strengthen the centre’s appeal as a premium waterfront outlet destination, offering a distinctive experience that combines retail, dining, and leisure in a unique setting.

Building on recent upgrades across The Avenues and the near-complete improvements in Marlborough Square, the plans are intended to increase visitor numbers and encourage longer stays. By enhancing the environment and overall visitor experience, Landsec aims to support stronger trading performance for existing tenants while attracting new brands to the destination.

The proposed changes include expanded ground and first-floor terraces overlooking the marina, creating an improved al fresco dining experience with enhanced waterfront views. Additional elements of the project include updated building façades, improved public spaces, additional seating areas, and the introduction of a new public staircase to improve connectivity and ease of movement throughout the site.

The redevelopment will preserve the Grade II listed Old Customs House, ensuring that the historical character of the location is maintained, while investment is focused on revitalising underutilised areas and unlocking their full potential.

The plans are supported by strong recent performance at Gunwharf Quays, where footfall has increased by 5.7% over the current financial year, significantly outperforming the national benchmark of 0.2%. This growth reflects the positive impact of earlier investments and the continued demand for high-quality, experience-led retail environments.

Tim Treadwell, Head of Retail Portfolio at Landsec, noted that the company’s outlet destinations are performing well, with Gunwharf Quays standing out as a prime example of the growing popularity of premium outlet shopping experiences. He emphasized that the next phase of development will further enhance the destination’s ability to attract leading global brands and strengthen its appeal as a full-day leisure and shopping destination.

Subject to planning approval, construction is expected to begin in 2027. Gunwharf Quays currently offers approximately 330,000 square feet of retail, dining, and leisure space, comprising 96 retail outlets and 36 food and beverage venues, including recently introduced brands such as Mulberry, Citizen, Lucy & Yak, and Oliver Bonas.

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Media Contact:

Press
Chris Hogwood
+44 (0 ) 7869 140 323
chris.hogwood @landsec.com

Investors
Ed Thacker
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edward.thacker @landsec.com

SOURCE: LANDSEC