Office occupancy success continues across Chesterfield

By Josh Marsh - 18 July 2024

Chesterfield is fast emerging as a prime destination for office space. With its strategic location and proactive community, combined with modern commercial developments, our town is becoming a beacon for businesses looking to establish a strong presence in the region.

The success story of office developments in Chesterfield is a reflection of the town’s adaptability and forward-thinking approach, as businesses adapt to hybrid working models.

In recent years, Chesterfield has seen a remarkable transformation. Its skyline has evolved with state-of-the-art office spaces that blend modern amenities with the town’s historic charm.

One Waterside Place, The Glass Yard and the Northern Gateway Enterprise Centre have all opened in the last couple of years, whilst quality refurbishments such as The HQ and The Quad have added to the availability of highly-demanded grade A space.

Interest in Chesterfield is fueled by a combination of factors: excellent transport links, competitive prices, and a council committed to supporting business innovation and development.

Chesterfield’s strategic position, offering easy access to major cities like Sheffield and Nottingham, makes it an ideal location for businesses seeking connectivity without the hefty price tags of larger urban centers. Moreover, the town’s investment in infrastructure and sustainable development is attracting a diverse range of companies.

PIB, Nuzest and Varley are just some of the companies opening new offices in Chesterfield recently, whilst businesses such as BHP, Rosewood Wealth Management, We Are Spaces and Vines Legal have thrived in the town, culminating in moves to larger offices.

We’ve spoken to the people involved in these transformational office projects, which are setting Chesterfield apart as a leading hub for enterprise and innovation.

With new stock continuing to come to the market, including the recently completed York House, there are plenty of opportunities to invest in Chesterfield.

Join hundreds of businesses benefitting from Chesterfield’s ideal location, affordability and work-life balance. Find out more about office spaces available in our town at: https://www.chesterfield.co.uk/business/invest-in-chesterfield/office/

Chesterfield Innovation Centres

2 female business people at white desks talking at Chesterfield Enterprise Centre, Crooked Spire visible through window

Northern Gateway Chesterfield Enterprise Centre

Chesterfield’s three innovations centres continue to report impressive occupancy rates. The recently-developed Northern Gateway Enterprise Centre in the heart of the town has an occupancy of 85% currently. Occupancy at Dunston Innovation Centre sits at a whopping 95%, and Tapton is currently 83% full.

Councillor Tricia Gilby, leader of Chesterfield Borough Council and cabinet member for economic growth, said: “Our Enterprise and Innovation Centres provide businesses with the space and support they need to grow and thrive in our borough and there has been lots of demand for space in all three of our centres over the last year.

“Our investment in these centres has been a key element of our plan to grow the local economy and create new employment opportunities and we’ve seen the success of this investment through businesses growing and expanding their presence in our borough. New businesses receive a warm welcome into our centres, and our dedicated team are always happy to help businesses find the right space for them. If you’re looking for new office space in Chesterfield, please get in touch with our team who will be pleased to help you in your search.”

One Waterside Place

BHP, 1 Waterside Place, Chesterfield

All floors of the flagship One Waterside Place building, situated just a few yards from Chesterfield Railway Station have now been taken.

The seven-storey development is home to BHP Chartered Accountants, Rosewood Wealth Management and Wesco Anixter. Meanwhile one of the first businesses to move into the building, Varley, has taken a second floor of space to take the occupancy to 100%.

Peter Swallow, Managing Director of Bolsterstone Group and Chair of Destination Chesterfield, said: “We’re delighted that Varley has expanded their office space within One Waterside Place. Together with BHP, Rosewood Wealth Management and Wesco Anixter, the building is now fully occupied.

“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. 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.”

“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 later this year.”

The Quad and The HQ

Two recently-refurbished buildings, situated near Queen’s Park and Chesterfield town Centre, have both seen huge demand.

The Quad and The HQ underwent major improvements, carried out by FI Real Estate Management.

With 56,000 sq ft of floor space, The Quad is now at full occupancy with DHU Healthcare moving into the building. Investment at the HQ has created over 100,000 sq ft of modern open-plan office space, with the majority now snapped up.

Dom Knowles, Head of Offices FI Real Estate Management, commented: “The way businesses use office space is fundamentally different to just a few years ago. As developers, it’s our responsibility to provide workspaces that respond not only to the needs of the current market but to set the trends for future ways of working.

“Our space at The HQ and The Quad is flexible and customisable, allowing our tenants to maximise their workspace without compromising on convenience. Elevating spaces with the highest standard of amenities creates spaces where people love to come to work and will ultimately thrive, which benefits the business. We’ve had a large volume of interest in this development throughout the refurbishment and I expect we will be fully let in the coming months.”

An Agents View

The first half of 2024 has pleasingly been a busy period for FHP Property Consultants. The company was involved in the letting of space at One Waterside Place, as well as several other sites across Chesterfield and North Derbyshire.

Darran Severn, Director at FHP Property Consultants commented: “It’s been hard work but pleasing we are seeing some of the deals we agreed earlier in the year completing. We are finding that enquiry levels are consistent and in some of these locations and it’s a matter of unearthing the right occupier for the building.

“Quality is key, and many of the businesses we are speaking with are looking for refurbished space that is immediately available for occupation. Both capital and rental values remain at existing levels, with typical lease lengths being between 5 and 10 years with breaks in year 3. Whilst there is an element of uncertainty in the air due to political and world events, we do require more stock across Chesterfield and Derbyshire to satisfy ongoing requirements.”