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Jomast increases number of ground floor units at Elder Way

Tuesday, February 11th, 2020

With strong interest in the ground floor units at Elder Way, Jomast has announced that it has increased the number of available units from seven to eight.

Mark Hill, Commercial Property Director at Jomast explained; “The forthcoming innovation centre at Holywell Cross car park in addition to the new Premier Inn Hotel and Saltergate car park are all positive factors for prospective tenants at Elder Way. Together they are helping drive interest both locally and from further afield in the units. In response to market demand we have increased the number of ground floor units from seven to eight and we are in advanced discussions with a number of tenants for the units.”

The proposed leisure quarter at Elder Way embraces the ‘experience economy’ that has been hailed as the future for the UK’s town centres with outlets like gyms, golf ranges, art galleries, market stalls and places to eat and drink all being part of the experience.

It is an approach, combined with having a mix of chain and independent retailers on its high street, that Chesterfield has long adopted and why it is consistently ranked as a top town for having low shop vacancy levels.

Chesterfield has a vacancy rate of just 7.63 per cent compared to a national average of 12.2 per cent.

In addition to the 92-bed Premier Inn which opened on the upper two floors of Elder Way last year, the building now has plans for a gym in the basement and eight food and drink outlets at street level.

This experiential mix of businesses, combined with Chesterfield’s regular events, open air market and chain and independent retailers, is on trend and key to driving increased footfall to the town centre; and Chesterfield is getting it right according to the government’s High Streets Task Force.

Chesterfield’s 816-year old market town heritage is helping define its future. The market remains an important part of Chesterfield and it has evolved in recent years to deliver the immersive experience which is demanded by today’s visitors.

Alongside its regular market on Monday, Wednesday and Friday, Chesterfield hosts popular Flea, Artisan and Vegan Knights markets and popular events like Motor Fest, the 1940s and Medieval markets, along with the Chesterfield Food and Grooves Festival, to name but a few.

These events are helping attract footfall to the town centre and ensuring that Chesterfield not only survives but thrives. It’s an approach endorsed by industry experts.

In a Panorama documentary on the UK’s High Streets, Professor Cathy Parke, co-chair of the Institute of Place Management (IPM) and who helps lead the High Streets Task Force, said: “Retail has only ever been a part of the functions of a town and city. In the 1980s and 90s, we got a little bit fixated on retail and we just thought that the whole town and the whole city was all about retail.”

To survive and thrive, High Streets need to adapt. But before they do, according to Professor Parker, “places need to understand their function and the things that draw people into the town centres”.

To reinvigorate them, we need what you might call a Mars bar approach; building town centres which aren’t just about buying stuff, but places you can “work, rest and play”.

Elder Way provides the ultimate ‘work, rest and play’ venue which has been reflected in the strong interest shown in the units and led to Jomast revising upwards the number of available units at street level.

Mark added: “There has been considerable interest from businesses in Elder Way since we acquired the former Co-op department store building and converted it into leisure space. From the outset our vision for Elder Way was to transform it into a new food and drink quarter for the town and it is a vision which people are buying into.”

The iconic Elder Way building has been sympathetically developed into eight fully accessible, modern street level units. With glazed frontages and external seating, available units range in size from 1,420 sq ft to 4,219 sq ft. Each unit can be made bespoke and fitted out to your own individual requirements.

If you want to be part of Chesterfield’s thriving town centre, get in touch with our team now to discover what Elder Way can offer you.

For more details about the forthcoming available units and business space at Elder Way, please contact Jomast Developments on 01642 666942.

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