A new and ambitious growth strategy for Chesterfield, the largest town in Derbyshire best known for its industrial heritage, historic architecture and proximity to the Peak District, has been shared with potential investors at UKREiiF, a major real estate and infrastructure investment event, as well as details of commercial property projects that will deliver more than a million square feet of new high-quality office and industrial space over the next two years.
Speaking at the event, Dr Huw Bowen, Chief Executive of Chesterfield Borough Council, said that Chesterfield was delivering consistent and sustainable business growth, and had seen interest in its commercial space increase from both local startups and companies considering relocation to the town since the pandemic lockdowns.
Data shared in Chesterfield’s growth strategy reveal that the town’s business population has grown by more than a fifth (21 per cent) in the last decade and created 2,000 new jobs, including 1,800 high-value roles in sectors such as advanced manufacturing and professional services. Chesterfield aims to attract a further 400 businesses and 2,000 more jobs to the town by 2030.
Chesterfield Borough Council is supporting, either through direct investment or public-private partnerships, a series of projects to provide high-quality commercial space for businesses. It has helped bring to market almost 300,000 square feet of modern office, industrial, manufacturing and logistics space since the start of 2022, and expects further new premises totalling more than one million square feet to become available by the middle of 2025.
Key commercial developments in the town include:
One Waterside Place: 35,000 square feet of Grade A office accommodation located within five minutes’ walk of Chesterfield’s mainline train station. The building provides high quality office space for larger businesses looking to relocate or expand. Opened in January 2023, two of the building’s six floors have already been taken by tenants.
Hartington Industrial Estate: a major industrial development in Staveley, an area of Chesterfield next to the M1 motorway. This project will create 800,000 square feet of new commercial floorspace, with multiple modern industrial and warehouse units measuring 20,000 square feet and more expected to become available in 2023.
Prospect Park: located just off the A61, the main road between Chesterfield and Sheffield, Prospect Park provides high-quality office space and plots for new advanced manufacturing, warehousing and distribution units ranging from 7,000 – 50,000 square feet.
Chesterfield has also earmarked several prime locations for new residential development as part of plans to build more than 4,000 new homes by 2035. The number of new homes built in the town has exceeded targets in the last three years, and data from Home.co.uk shows that residential properties in Chesterfield sell faster, on average, than in Sheffield, Nottingham and Derby.
Dr Huw Bowen, Chief Executive of Chesterfield Borough Council, said: “Chesterfield is delivering consistent and sustainable growth, and becoming a destination of choice for entrepreneurs, knowledge workers and investors seeking a compelling work-life alternative to big cities. Our investments in assets, infrastructure, and partnerships are fuelling the transition to a higher-skilled, higher-wage economy. Our indigenous business base is growing, and we’ve seen enquiries from companies considering relocation to Chesterfield rocket since the pandemic.”
Peter Swallow, Chair of Destination Chesterfield, comments: “Chesterfield is a great place to live, and now, an even better place to do business. We’re investing in high-quality commercial spaces, opening up opportunities for more high-quality homes, and creating an environment that nurtures both residents and entrepreneurs. With our strategic location, culture of invention and competitive cost base, Chesterfield is the perfect location for startups, scaleups, innovators and investors.”