East Midlands
Chesterfield unveils £2 billion regeneration programme, fuelling growth across key sectors
Chesterfield unveils £2 billion regeneration programme, fuelling growth across key sectors
You may have heard of Chesterfield’s famous Crooked Spire, but today the town is gaining national attention for something even more exciting—a bold £2 billion regeneration programme driving growth in housing, advanced manufacturing, green technology, and town centre renewal.
Backed by the new East Midlands Combined County Authority and a proactive local council, the regeneration vision is built on inclusive, sustainable growth. The borough is home to sites within the newly designated East Midlands Investment Zone, both in Staveley, just minutes from the M1. These offer financial incentives for companies in advanced manufacturing and green industries.
The town’s economic credentials are solid. Markham Vale, a flagship enterprise zone at Junction 29a, is already home to dozens of thriving businesses, including logistics, manufacturing, and innovation lead- ers. Major new developments such as ARK, Nova, and the Markham Vale Trade Park are set to expand the zone’s offer by over 700,000 sq ft. by late 2025.
Meanwhile, Chesterfield’s town centre is being transformed. A
revamped marketplace and public realm, new commercial units and the Stephenson Memorial Hall revamp are delivering new opportu- nities in leisure, retail, hospitality, and Grade A office space. A £20 million Levelling Up Fund is accelerating improvements to the town’s historic market and public realm.
Chesterfield is also tackling housing needs head-on, with ambitions to build 500 new homes per year across its borough over the next 15 years. In 2024, 100% of planning applications for housing were approved. Ranked the Happiest Town in the East Midlands, the town blends business opportunity with outstanding quality of life, on the doorstep of the Peak District.
We’re also investing in our local talent pool. Our college boasts a strong relationship with businesses to provide firms with the skills they need to prosper. A dedicated Construction Skills Hub has been set up, expected to train 5,000 individuals in our town. On top of that, a state-of-the-art rail sector training facility is being set up at the historic Barrow Hill Roundhouse, building on our strong rail heritage.
With 3,300+ businesses, a strategic location, and a clear commitment to growth, Chesterfield is ready to welcome investment.
Are you ready to be part of Chesterfield’s next chapter? Market Outlook for Derbyshire’s Industrial Property Sector
We spoke with William Speed, Chartered Surveyor at Salloway Property Consultants, to gain his perspective on Derbyshire’s industrial property market
- its recent performance, current trends, and what the latest data suggests for both investors and occupiers.
William Speed
How would you characterise the perfor- mance of Derbyshire’s commercial prop- erty market over the past year?
Despite the prevailing headlines around interest rate uncertainty and subdued consumer demand, Derbyshire’s commercial property market has demonstrated considerable resilience. The industrial sec- tor, in particular, has performed strongly over the past year. Notable sales include Hay Lane Industrial Estate, Foston (c. 50,000sq. ft. ), 1a – 1d Trafalgar Park, Derby (c. 45,000sq. ft. ), Dremm Premises, Ilkeston (c. 24,000sq. ft. ), Denmark House, Ilkeston (c. 23,000sq. ft. ) and Eagle Mill, Ilkeston (c. 20,000sq. ft. ). Importantly, the common theme with all of these transactions is that these were purchased by owner-occupiers, financed either through cash purchase or bank lending. Owner occupiers demand for space is normally driven by business needs, and therefore they are generally prepared to pay ‘premium values’ beyond the reach of your typical investors, as the price they pay erodes any margin or costs an investor would seek to factor into a purchase price.
Which trends are shaping occupier demand in Derby right now?
Occupiers are chasing high-quality space with good transport con- nectivity, proximity to complementary business, and, in some cases, specialist fit-outs. Another notable trend is repurposing. A number of older industrial properties are being acquired with vacant possession and subsequently refurbished by owner-occupiers or developed by investors for leisure or mixed-use schemes. This is driven by the
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cost and availability of materials/labour where developers are see- ing better value or the ability to add value to second hand stock in comparison to build new. However, commercial development is still happening, and our clients Ivygrove Developments are pio- neers when it comes to the development of medium sized industrial schemes. Following the recent acquisition of the 7-acre Albert Looms site, located to the east of Derby and adjacent to the A52, this prom- ises to deliver industrial and trade counter units to an area of the city that is currently undersupplied.
What are the main opportunities and risks for investors in Derbyshire over the next cycle?
Opportunities: Industrial/logistics remains the standout performer, underpinned by strong occupier demand, rising rents, and limited supply. Redevelopment/repurposing will grow in importance as ageing stock requires modernisation and occupier appetite remains robust.
Risks: Rising business costs have already placed pressure on many occupiers, with a number of insolvencies over the past year leading to vacancies and reduced rental income for investors. Borrowing costs are currently relatively favourable, any sudden upward shift could disrupt the market and create additional voids.
Derbyshire’s commercial property market is defined by resilience and buoyancy, with the industrial and logistics sector leading the way. While challenges remain – from rising costs to limited supply – the region offers significant opportunities for investors and occupiers who are prepared to adapt to evolving dynamics.
For more details please visit
www.salloway.com
COMMERCIAL PROPERTY MONTHLY 2025
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