Lordsmill Gate, Chesterfield
In this example, Bolsterstone were made aware by the Mansfield Brewery that a public house known as “The Old Feathers” was allocated for closure. Bolsterstone subsequently carried out an appraisal of the site, which, is located in Chesterfield town centre, and resolved that it was in a location, which was suitable for a small town centre retail scheme.
Bolsterstone subsequently acquired the property from the brewery, and obtained planning consent for demolition of the existing premises and redevelopment incorporating retail shops and first floor offices.
Upon receipt of planning consent, Bolsterstone sourced tenants for the scheme, and in a very short space of time had signed up on agreements to lease units to Domino’s Pizza, Johnsons Dry Cleaners and Bathstore (part of Wolseley Group Plc). The building contract for the scheme was procured by Bolstestone and project managed through to completion, with funding for the development being provided from internal resources. On completion the retail units were duly occupied by the tenants on terms varying from 15 to 25 years, with the office space being let to Hayes Recruitment Plc.
The development has been retained by Bolsterstone as an investment, with a value of circa £1.5m.