Member Article

Redevelopment of pivotal Chesterfield site complete and ready for occupiers

Seven street-level retail units located on a pivotal site in Chesterfield town centre have been completed by urban regeneration specialist Jomast Developments and are now ready for tenants.

Elder Way, a former Co-op department store in the north Derbyshire town has been transformed into a landmark mixed-use leisure scheme by Jomast.

The site boasts a hotel on the upper floors and now, retail units on the ground floor. Each of the units has been boarded out and painted, creating a blank canvas for new tenants.

Jomast, one of the UK’s leading property development and investment specialists, acquired the famous 1930s, Mock-Tudor building in 2016. It has since developed it into hotel accommodation and the new retail units which are targeted at food and drink operators. The new units complement the upper two floors of the four-storey building which have been operated as a 92-bed Premier Inn hotel since 2019.

Mark Hill, Development Director at Jomast said: “The transformation of the iconic and characterful former department store in Chesterfield has been a labour of love that has created a vibrant new leisure quarter for the town of which we are immensely proud. Interest in the units has been strong and we hope to welcome tenants soon.”

The transformation of the street-level units, all with glazed frontages, was completed in October, offering prospective tenants a flexible and blank canvas for their business. The units, which range in size from 1,420 sq. ft to 16,076 sq. ft are targeted at food and drink businesses. Additionally, there is 16,285sq. ft. of gym/D2 space in the basement of the building.

Mark added: “The position and location of the site at times has been challenging but our ongoing collaboration with Chesterfield Brough Council has enabled us to create a premium and attractive business address on Chesterfield’s high street.”

Situated in the golden triangle of investment with Chesterfield town centre, Elder Way sits within the recently completed £19.9million Northern Gateway regeneration scheme which comprises a new multi-storey car park, the Northern Gateway Enterprise Centre and large-scale public realm improvements.

Northern Gateway Enterprise Centre, which opened in July earlier this year, already boasts more than 50% occupancy with 17 of the 32 offices now tenanted.

Chesterfield Borough Council is making further investment in the town centre following £20million of Levelling Up funding which, along with additional funding from Chesterfield Borough Council, will transform key event spaces and public areas. The £26million Revitalising the Heart of Chesterfield scheme that will revitalise and better connect key areas of the historic town centre and revamp the Stephenson Memorial Hall. Work has already started and will be completed in phased until 2025.

Elder Way and the golden triangle of investment in the town centre is part of £2billion of regeneration projects currently underway across Chesterfield, which includes the £400million Peak Resort and £340million Chesterfield Waterside developments.

This was posted in Bdaily's Members' News section by Anna Melton .