Currently the council is remaining tight-lipped about the Sainsbury s bid due to commercial sensitivity.
However, council leader, Councillor Gerald Vernon-Jackson, said: There s an area currently covered by a plan and the logic is if this land (the Sainsbury s site) comes into the council s ownership we would look to make it part of a wider scheme across the city centre.
And a council spokesman said: As part of the emerging new local plan for Portsmouth, the council is reviewing the opportunities for new development and regeneration in the city centre in a new masterplan and delivery strategy.
An image of plans for the Northern Quarter scheme from 2017 that were since scrapped. Picture released February 2017