Chesterfield investment news

Summit to spotlight ‘once-in-a-generation’ transformations of Chesterfield high streets

Business owners are invited to explore how Chesterfield’s ongoing regeneration is set to unlock significant investment opportunities in the coming years. 

The Chesterfield Investment Summit will take place on Wednesday, 6 November 2024, at Casa Hotel, offering an extensive update on various projects that will dramatically modernise and revitalise the town’s high streets. 

East Midlands Combined County Authority, will address the summit, sharing their vision and priorities for driving investment in Chesterfield and the broader region. 

Mayor Claire commented: “The regeneration of Chesterfield’s high streets is a key milestone in the broader strategy to breathe new life into our towns across the East Midlands. By modernising and enhancing these vital spaces, we are not only improving the everyday experience for residents and businesses, but also attracting significant investment that will create new jobs and opportunities.” 

Organised by Destination Chesterfield and supported by We Are Spaces, East Midlands Chamber and Markham Vale, the event will showcase transformative works in Chesterfield Town Centre. Dr Huw Bowen, Chief Executive Officer at Chesterfield Borough Council, will provide updates on several key initiatives, including Revitalising the Heart of Chesterfield. The project promises over £10 million in enhancements aimed at improving the town centre’s appearance, functionality, and flow. 

New layout for Chesterfield Market with contemporary stalls, heritage colours, Market Hall in the background, town pump a feature

Ojay McDonald, Chief Executive of the Association of Town & City Management, will discuss the evolving role of high streets and the need for adaptation to future demands. 

Attendees will also hear from Amy Revell, Co-Founder of We Are Spaces. Amy’s company is currently carrying out the extensive refurbishment of a Grade II listed building in Chesterfield’s retail core.  

She will be joined by Ivan Fomin, Chair of the Staveley Town Deal Board, who will provide insights into the £6 million regeneration and revitalisation efforts underway in Staveley’s town centre. 

Cllr Tricia Gilby, Leader of Chesterfield Borough Council and Vice-Chair of Destination Chesterfield, added: “The Investment Summit is a fantastic opportunity to spread the word about all the incredible things happening in Chesterfield. With the multi-million pound regeneration projects currently underway in Chesterfield and about to begin in Staveley, this is the time to look ahead to the future of high streets and talk about how the interventions we are making will help ensure they can continue to thrive and provide a full range of leisure, retail and cultural experiences.  

“I look forward to welcoming local businesses and investors to the summit and discussing with them how they can play a key role in Chesterfield’s future.”  

To see the full event details and secure a place at the Chesterfield Investment Summit, please book online at: https://www.chesterfield.co.uk/business/investment-summit/

Dr Huw Bowen speaking at 2024 Chesterfield Investment Summit

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Figures revealed at annual Investment Summit show new businesses are booming in Chesterfield

Official figures presented today at the Chesterfield Investment Summit show record levels of startups setting up in the Chesterfield area, alongside substantial growth in the town’s visitor economy and construction sectors. Survival rates for companies in Chesterfield far exceed the national average.

New business activity in Chesterfield, Derbyshire’s largest town, reached record levels in 2022 and is expected to grow again this year, according to figures shared today at the Chesterfield Investment Summit. Analysis of Companies House data, the official register of UK companies, shows that 1,021 startups with Chesterfield addresses were registered in 2022, 4% more than in 2021, and indicates the area is on track to create over 1,100 more businesses in 2023.

Analysis from Destination Chesterfield – the organisation responsible for promoting investment in the town – shows strong levels of new business activity in several sectors prioritised in Chesterfield Borough Council’s growth strategy, as well as encouraging signs for the town’s independent retail sector:

  • 92 new hospitality companies were launched in Chesterfield during 2022, a 10% increase on 2021 (84) and more than three times the number (29) created in 2012. Hospitality is a crucial component of Chesterfield’s growing visitor economy, which attracted 3.7 million people in 2022 (20% more than 2021), according to Chesterfield Borough Council. The visitor economy supports over 2,000 full-time jobs in Chesterfield and was worth £207 million last year.
  • 106 new professional services companies were created in Chesterfield during 2022, an increase of 29% on 2021 (82). They include 27 management consulting companies, 22 engineering advisory firms and 12 advertising and digital media specialists. Chesterfield is actively encouraging professional services firms to locate to the town to help achieve a 15% increase in higher-skill, higher-wage knowledge-based occupations for residents by 2030.
  • 99 construction startups were established in Chesterfield in 2022, 10% more than 2021 (90) and 55% higher than 2012 (64). Data from Chesterfield Borough Council shows the number of new homes built in Chesterfield has more than doubled over the last decade to reach 373 completions in the year to April 2023. Chesterfield has exceeded its new build target in each of the last four years and the council has earmarked several prime locations for new residential development as part of plans to build more than 4,000 new homes by 2035.
  • 124 retail and wholesale startups began trading in Chesterfield in 2022. Although this was down 5% on 2021 figures, it represents a 49% improvement over the last decade and is expected to grow to more than 150 in 2023. The number was driven, in part, by a threefold increase in online retail startups over the last decade. Entrepreneurs in Chesterfield launched 23 e-commerce companies in 2022 and are on track to create over 40 more during 2023.

Dr Huw Bowen, Chief Executive of Chesterfield Borough Council, said: “New business activity is booming in Chesterfield, which is seeing growth from homegrown startups and those relocating to the town from elsewhere.These outcomes are the fruits of a purposeful strategy to secure new business investment in Chesterfield and help our existing businesses to grow.”

Dr Huw Bowen - Chief Executive of Chesterfield Borough Council

“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.”

Peter Swallow, Chair of Destination Chesterfield, comments: “Chesterfield is growing thanks to its location, its supportive community, the incredible lifestyle you can enjoy here, and the investments that are being made in high-quality business space and housing. We’ve seen more interest from local and incoming entrepreneurs post-pandemic, who are creating new jobs and opportunities for the abundant talent pool Chesterfield can access, and we expect that growth to continue as the town seizes new opportunities associated with the East Midlands devolution deal over the coming years.”

peter swallow speaking at Celebrate

Official figures also show that businesses based in Chesterfield consistently enjoy significantly higher survival rates than the national average. The latest data from the Office of National Statistics show that 62% of Chesterfield companies started in 2018 were still trading after three years, compared to 54% for all of the UK. Similar figures were recorded for businesses founded in 2016 and 2017.

More than 200 delegates, including domestic and commercial property investors and business leaders from the UK, attended the Chesterfield Investment Summit today. The Summit is organised by Destination Chesterfield and sponsored by East Midlands Chamber and Turner & Townsend.

Destination Chesterfield has received £180,000 from the UK Government through the UK Shared Prosperity Fund. It follows a successful funding bid by Chesterfield Borough Council, to secure £2.69 million worth of funding for local projects.

spire drone 1

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Chesterfield bids for businesses with over a million sq ft of new commercial property

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 today 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.

DR Huw Bowen UKREiiF Harworth Panel

Dr. Huw Bowen speaks on Harworth panel at UKREiiF

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.”

Find out more at: https://www.chesterfield.co.uk/business/invest-in-chesterfield/

View the latest details around commercial property projects in Chesterfield in the latest Chesterfield Investment Prospectus here.

Chesterfield commercial property to be showcased

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