Their prospectus, dated 14 May 1898, revealed that they proposed to spend £5,000 on up to five acres of agricultural land at Goldsmith Avenue near the (then) farming village of Milton to be used primarily for football and ""for such outdoor games and exercises"" that were approved by the directors. These were to include cycling, athletics and cricket matches. It was noted that the ground was to be built within easy reach of Fratton railway station with its convenient trains and trams and that it ""was intended to drain and turf the land and erect the necessary buildings"" for a further £2,000, which would leave working capital of about £1,000.