Developers have snapped up a prominent town centre site, representing ‘the single largest transaction’ in Chesterfield for many years and offering a‘significant opportunity’ for firms.
Property consultancy Commercial Property Partners LLP has facilitated the off-market sale of Markham House, just off Lordsmill roundabout, on behalf of Manchester-based investment company MCR Property.
The 90,000 sq ft building was acquired by Chesterfield based Property Investment Company Lodge Farm Estates for an undisclosed sum in September.
Plans are now afoot for a ‘full refurbishment’ of the mixed-use site with the new owners looking to bring the building ‘back up to a modern standard’.
Rob Darrington, partner at CPP, said: “Markham House is situated in a very prominent position in Chesterfield, which is a significant factor in its success attracting such a unique mix of tenants – from retailers, through to office-based businesses and service providers.
“I’m sure this will be a great addition to Lodge Farm Estate’s portfolio due to its size and potential for future development – providing the much needed town centre office accommodation and retail space, which is high in demand - and we were delighted to have facilitated its sale off-market.”
The property is already home to a myriad of businesses including retailers, a Kwik-Fit and the central Job Centre.
David Tate, Lodge Farm Estates director, said: “Markham House offers a significant opportunity to Chesterfield.The property will offer a variety of accommodation from traditional office suites between 1,000 sq ft – 10,000 sq ft, to self contained small studios suitable for private gym uses, medical purposes or similar.”