Chesterfield’s ambitious £340 million regeneration scheme set to take shape in 2018
The ambitious £340 million regeneration project Chesterfield Waterside, is set to make significant progress in 2018.
The exciting news was revealed at the annual Celebrate Chesterfield event on Thursday 22 March by Peter Swallow, Managing Director of Bolsterstone Group Plc the company leading the project.
At the event he revealed that construction of up to 170 two, three and four bedroom homes, which will form ‘The Park’ neighbourhood, is expected to get underway as early as the first quarter of 2019.
Delivery of a further 310 residential apartments within Phase 1 of Basin Square has also taken a step forward following a recent collaboration agreement with an investment company as the funding and delivery partner for the proposed ‘Build to Rent’ accommodation. The conclusion of this agreement is the first stage of a process which will facilitate the construction of these one and two bedroom units at Basin Square
The recent progress follows the granting of outline planning consent last year for the layout, heights and massing of the apartments, hotel, offices, retail units and multi-storey car park which will be constructed in Phase 1 of Basin Square.
Further developments at Basin Square include the granting of planning permission to restore the link from the canal to the newly constructed basin within the scheme. A reserved matters planning application will also shortly be submitted for the 4000m² office building, 30% of which is already under offer. Construction of the office building is expected to start early next year.
Speaking at the event Peter, who has recently returned from France having attended the leading worldwide property event MIPIM where the Chesterfield Waterside project was showcased, said: “I am delighted with the excellent progress being made at Chesterfield Waterside.
“The next step in this process is that we will now move forward with the ‘best bids’ process for the construction of the family housing units at The Park and, subject to reserved matters planning consent being granted, expect work to start on site on this phase early next year.
“Demand is strong as developers see the massive potential of Chesterfield Waterside as a whole. The development’s prime location next to the town centre, great road networks and the train station which will have an HS2 stop by 2034, make it an attractive investment opportunity that is holding its own at a regional, national and international level.”
The 16 hectare development is a 10-year project being led by Bolsterstone Group working in partnership with Arnold Laver Group and Chesterfield Borough Council. The programme aims to create a thriving new community with homes, offices, shops, bars and restaurants surrounding a new canal basin and is one of the largest regeneration projects in the UK.