A couple, both City workers, meet up after a hard day in the office. At 6.30pm, they are at Waterloo railway station. Fast-forward an hour and 50 minutes and they are finally at home. This is where the sales literature starts to seem improbable. The young executives, sharing a joke and looking well-rested, are pictured at 9.15pm in evening dress, champagne glasses in hand, after the commute to their new home in Portsmouth. After a long day, involving a total of 3hr 40min of travelling to and from the office (not including Tube journeys), surely it would be sleep, not champagne, that would be foremost on their minds?

Berkeley Homes, the developer behind the award-winning No 1 Gunwharf Quays, has brought a slice of the London life to this city on the South Coast, better known for its naval heritage than as a destination for the Moët-swilling upwardly mobile. Despite the pitch to commuters in the sales booklet, Berkeley admits that most London dwellers who have bought some of the 141 apartments in this 29-storey tower by the sea are sailing enthusiasts — they use it as a weekend pied-à-terre rather than as a commuter home. Those who do commute do so for two or three days a week, not five, the marketing director says. It is hard to imagine what, apart from sailing facilities, would convince those working in London to live in Portsmouth. Until, that is, you start comparing prices. Portsmouth is one of the most affordable places in the South East, according to Savills. The average one-bed flat costs £117,498 and four-bed houses are £273,100, compared with £284,625 and £840,330 in Battersea, southwest London. Although prices at No 1 Gunwharf, which would not look at all out of place by the Thames, reflect the premium of the address, Berkeley says that these apartments are for sale for about half the sum that they would fetch in the capital. Prices start at £185,000 for a one-bed flat and rise to £450,000 for a three-bed. On the higher floors, you would also get the most stupendous view east, over the Solent; south, to the Isle of Wight; or west, over the harbour. The penthouse, all 4,000 sq ft of it, will have 360-degree views and is likely to cost about £4 million when it goes on the market later this year.

It is perhaps Portsmouth’s deficiencies as a convenient commuter town that prompted Berkeley to transform the apartments into something truly eye-catching — a feat that, by any measure, it has achieved. The building, designed by Scott Brownrigg, sits comfortably alongside the Spinnaker Tower, an impressive seafront monument to Portsmouth’s desire to be taken seriously. The lipstick-shaped apartment block is the crowning glory of Gunwharf Quays, a £200 million retail and residential complex next to Portsmouth Harbour railway station and a ten-minute walk from the town centre. It would be entirely possible for residents to live here and never have to go into Portsmouth itself. They can do their shopping in the outlet stores, which include upmarket brands such as Paul Smith, Molton Brown and Ralph Lauren, as well as Marks & Spencer. They can dine in one of the many restaurants, the majority of which are decent chains such as Strada, but the opening of a Brasserie Blanc right underneath No 1 has raised the bar. Waiters will bring food up to the apartment if you don’t much fancy socialising.

But to sailing fans, such benefits are mere adjuncts. This is a yachting playground perfect for boat buffs, either those who actually sail or who just want to look. Although the nearest marina, in Gunwarf Quays, is fairly small, Gosport is only a ten-minute ferry ride away.

There are others for whom this development fits the bill. Parents who live overseas who want accommodation for their children at Portsmouth University, for instance. Or Portsmouth’s own high-flyers. Berkeley has also found that retired downsizers love the building — it has 24-hour security, lifts, underground parking and is maintenance-free. The only problem for those substituting a large house for a highly stylised apartment is how to make family-home furniture fit in an ultra-modern setting. “It can work,” says Chris Dezille, Berkeley’s interior designer for the scheme, “provided there are some modern touches too.”

The apartments, described variously as “chic” or “sleek”, come in hues of grey and cream, with splashes of white and red. They are open-plan, with full-height windows, kitchens by Linea Quattro and Villeroy & Boch in the bathrooms.

Details: www.gunwharfquays.co.uk 023-9285 1800

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