Chesterfield’s old Zanzibar nightclub and Regal Cinema building ‘presents exciting opportunity’ for investor
A huge town centre building ‘presents an exciting opportunity’ for an operator willing to invest in Chesterfield, according to a property firm.
Formerly the home of Chesterfield’s Regal Cinema and then nightclubs including Zanzibar and Escapade, 20 Cavendish Street – which was built in 1930 – has mostly been empty for several years.
It remains on the market.
Damian Sumner, partner at Brasier Freeth – who is marketing the prominent property – told the Derbyshire Times: “We’ve been fielding enquiries from various operators interested in the building for a period of time now.
“These have included various leisure, amusement and community occupiers wanting to lease the upper floors of the building.
“We’ve also received interest from a number of parties who want to purchase the building to facilitate refurbishment or redevelopment for uses including residential and hotel.”
Mr Sumner said there has been an ‘extremely encouraging’ level of enquiries received from local operators who are willing to invest in Chesterfield town centre.
He added: “It reinforces the message of localism as a response to the pandemic.”
According to Mr Sumner, no deal has been agreed on the site as yet, largely because of Covid-19 restrictions being in place.
He added: “The building presents an exciting opportunity for an operator who wants to invest in Chesterfield town centre, located near to the train station and close to a number of complimentary developments, including the Northern Gateway."
The price has not been publicly revealed but is available on application, a brochure for 20 Cavendish Street states.
The brochure adds: “Across Chesterfield, a variety of developments are taking shape incorporating various uses that will further connect and enhance the town centre offering, providing people with more reasons to come and work, shop and spend their leisure time.”
The ground floor of 20 Cavendish Street is currently leased to department store Boyes, which insists it is remaining open.
A spokesperson for Chesterfield Boyes said: “Boyes is not closing.
“We are trading within the Government guidelines in the current situation.
“We have temporary opening hours until April 12 when we will resume normal trading hours.”