Crucial first step for £300m regen project
Crucial first step for £300m regen project

From Insider Media National News:

"Construction work on the first phase of a £300m mixed-use regeneration project in Chesterfield is set to go ahead after the organisation behind the scheme completed its first development agreement for the site.

"The land off Brimington Road was previously owned by Arnold Laver Group and is part of the 40-acre Chesterfield Waterside development. Following the deal, the area will be used to build 19 affordable homes for a housing association.

"Chesterfield Waterside is close to Chesterfield town centre, which runs along the A61 and the Chesterfield Canal Corridor.

"The project has outline planning permission for approximately 1,500 dwellings, 300,000 sq ft of office, business and industrial space. When completed, it will also incorporate shops, restaurants and other leisure facilities constructed around a new canal basin.

"The entire development is being managed by Chesterfield Waterside, a joint venture between Chesterfield Borough Council and specialist regeneration developer, Urbo Regeneration, which is controlled by Chesterfield-based Bolsterstone and Arnold Laver Group.

"Real estate partner at Irwin Mitchell in Sheffield, Andrew Wallis, advised the delivery vehicle on the development agreement and land disposal and construction partner Julie Morrissy also advised.

"Although just the start this marks a significant milestone and hopefully will be one of the catalysts for progressing further with the delivery phases," said Andrew Wallis.

"Work starting on the site is also another sign that confidence is returning to the market."

"Peter Swallow, chairman of Chesterfield Waterside, added: "This is a large and complex scheme and it is great to see things moving.

"A lot of hard work has been put into every stage of the project. This is a great start and allows us to get underway with the delivery phase, which is likely to take place over a period of ten to 15 years."

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