Member Article

Office space letting success at Chesterfield Waterside

Less than 12 months after completion, Chesterfield’s flagship new large floorplate office block, One Waterside Place, has 100% occupancy.

Four businesses – BHP Chartered Accountants, Varley, Rosewood Wealth Management and Wesco Anixter International Inc - have each taken space in the newly constructed seven storey large floorplate office development at Chesterfield Waterside. Which was funded by Chesterfield Borough Council. The ground floor retail space in the building is also under offer.

The newest tenant, global electrical, communications, and utility distribution and supply chain solutions company Wesco Anixter, has taken three floors in the building.

One Waterside Place represents Phase One of Chesterfield Waterside’s commercial neighbourhood, Basin Square. The developer of the £340million Chesterfield Waterside scheme, Bolsterstone Group PLC has now turned its attention to the delivery of the hotel, residential and multi-storey car park elements surrounding the office block.

Joint agents Knight Frank and FHP acted on behalf of Bolsterstone Group PLC and Chesterfield Borough Council to secure the tenants.

Peter Swallow, Managing Director of Bolsterstone Group PLC, said: “One Waterside Place has been a huge success for both Bolsterstone and Chesterfield Borough Council; it has been instrumental in setting new headline rents for office space in the town.

“We are now progressing well with our plans to bring forward the next stages of Basin Square. There has been significant interest shown and we envisage being able to take some elements to the next stage in early 2024.”

Boasting 35,000 sq ft of space, One Waterside Place represents a step-change for Chesterfield’s office space offering. The large floorplate, Grade A office, which is situated next to the town’s train station, has attracted regional, national and international investors.

The One Waterside Place development is helping revive Chesterfield’s fortunes post Covid, showcasing occupiers’ needs for high quality space to attract and retain talent. It has also had a demonstrable effect on increasing headline rents for the town by securing rents 30% higher than those previously recorded.

Councillor Tricia Gilby, Leader of Chesterfield Borough Council and cabinet member for economic growth, said: “We invested in One Waterside Place during the pandemic, and it was a key element of our economic recovery. To have now fully let the office spaces within the first year of opening shows how our economy is growing and demonstrates how we can compete with the cities around us to attract both investment and jobs.

“Our local economy is growing and the investments we have made in modern attractive office space has helped bring new businesses into the town and created new jobs for our residents.

“Our investment coupled with our central location, culture of invention, competitive cost base and quality of life, is driving growth across the borough. Demand is soaring from local start-ups, relocating entrepreneurs from the likes of London, Leeds and Sheffield, and bigger businesses wanting more space or to consolidate their facilities in a single, central location.”

The success of One Waterside Place follows hot on the heels of Waterside Quarter, the residential neighbourhood at Chesterfield Waterside. Developed by Avant Homes, many of the 173 one, two, three and four bedroom properties sold off plan.

Peter added: “Whether it’s a private or public partnership, our aim is to create places people want to live, work and invest throughout the UK. It’s certainly been the case with Chesterfield Waterside. The success of One Waterside Place and Waterside Quarter is helping us attract substantial interest in the next delivery phase of the regeneration scheme.”

It is through its public/private partnership model that Bolsterstone is transforming cities and communities throughout the region, creating new places to live, work and invest. In addition to Chesterfield Waterside, current developments being brought forward by Bolsterstone, include West Bar in Sheffield, New Bolton Woods in Bradford and Moneystone Park in Staffordshire.

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