The completion of key office developments in Chesterfield has resulted in increased interest in the town from local and incoming entrepreneurs’ post-pandemic it has been revealed.
The findings were revealed at the town’s annual Investment Summit (18 October 2023) at which Peter Swallow, Managing Director of Bolsterstone Group and Chair of Destination Chesterfield spoke.
More than 200 delegates, including domestic and commercial property investors and business leaders from the UK, attended the Chesterfield Investment Summit which was held at the town’s luxury four-star hotel, Casa.
Bolsterstone Group is the lead developer of the £340million Chesterfield Waterside scheme which recently saw the completion of One Waterside Place – a seven storey Grade A large floorplate office block. The office space has attracted large regional businesses like BHP Accountants.
Speaking at the conference, Peter said: “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.”
One Waterside Place complements the Northern Gateway Enterprise Centre which offers office space for start-ups and SMEs. Both office developments, which are owned by Chesterfield Borough Council, were completed in 2022 and are reporting strong levels of occupation.
Official figures presented at the Summit showed record levels of start-ups setting up in the Chesterfield area.
- 106 new professional services companies were created in Chesterfield during 2022, an increase of 29% on 2021
- 99 construction startups were established in Chesterfield in 2022, 10% more than 2021 (90)
At the conference it was also revealed that start-ups in Chesterfield also 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.
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. The data also indicated that the area is on track to create over 1,100 more businesses in 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.”
Following the completion of One Waterside Place, Bolsterstone has now turned its attention to the delivery of the hotel, multi-storey car park and residential elements in the Basin Square neighbourhood where One Waterside Place is based.
Peter added: “One Waterside Place has been a huge success for both Bolsterstone and Chesterfield Borough Council. 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.”
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, which has recently been recognised with a national award, New Bolton Woods in Bradford and Moneystone Park in Staffordshire.
To learn more about investment opportunities at Chesterfield Waterside or other Bolsterstone schemes get in touch here
(19 October 2023)