Investment News | 16 February 2021

Work starts on first phase of £340m regeneration scheme

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Work has started on the first phase a major £340 million regeneration scheme in Chesterfield.

Construction work is now underway on One Waterside Place, a building that represents the first phase of the Basin Square character area, within the Chesterfield Waterside regeneration scheme.

When complete, the seven-storey office building will provide Grade A offices totalling 32,000 sq ft, alongside a retail unit of circa 5,200 sq ft.

Construction of the property is well underway and delivery is estimated in September.

Darran Severn, from FHP Property Consultants, which is marketing the development along with Knight Frank, said: “The accommodation will provide a high-quality working environment designed to a Grade A specification incorporating LED lighting, air conditioning, raised access flooring, high-quality entrance foyer and showers.

“We are pleased to confirm the first tenants, BHP Chartered Accountants, have signed up on 5,500 sq ft, leaving up to 30,000 sq ft available.”

The project has been forward-funded by Chesterfield Borough Council as a key strategic investment for the town.

Darran said: “There is currently a lot of speculation in regard to the return of workers to the office.

“My feeling is very much that we will see a return but the working week as we used to know will become more flexible.

“There will always be a demand for offices and it’s great to see a speculative scheme being brought forward in Chesterfield.”

Councillor Tricia Gilby, leader of the borough council, said: “We’re delighted to be bringing forward this state-of-the-art office building with Chesterfield Waterside Ltd, which will deliver supply chain opportunities for local companies during the construction phase and new jobs for local people with the companies that will be taking space at One Waterside Place.

“These are uncertain times but we must not stand still. We must continue to invest in this and other growth projects if we are to meet the council’s objectives of making Chesterfield a thriving borough and improve the quality of people’s lives.

“One Waterside Place is just the start of what we believe will be a very special journey for the people of this great town and borough.”

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