Tesco checks in to former M&S store as Chesterfield high street gets a new lease of life

Major high street revival continues in Chesterfield after property developer ALB Group secured supermarket giant Tesco as the new tenant for the former Marks & Spencer building in the town centre.

The building at 2-8 High Street has been vacant since M&S closed its doors in November 2022 after decades of trading.

Now, the ground floor of the building has been split into three units with Tesco taking the central store. The 5,000 sq ft unit will now be transformed into a modern Tesco Express, bringing fresh investment to the town centre.

The deal was brokered by Oliver Marshall of commercial property agency FHP, with ALB Group as the landlord. The handover to Tesco is expected to take place at the end of January 2026, on a 15-year lease.

The landmark building next to the 800-year-old Market Place and opposite Primark, has been a familiar feature of Chesterfield’s main shopping thoroughfare for generations. Marks and Spencer relocated to Ravenside Retail Park in a move that had been rumoured for years prior.

ALB Group, a business renowned for its regeneration projects up and down the country, has already begun plans to rejuvenate the property ready to hand over to Tesco to begin its store fit out.

As part of the wider redevelopment, ALB is also creating two additional ground floor retail units of similar size within the same block, which are already attracting strong interest from national and regional occupiers.

Arran Bailey, Managing Director for ALB Group, said: “This deal is another example of our commitment to breathing new life into key town and city centres across the UK. The former M&S site is in a prime location, and securing Tesco is a huge vote of confidence in Chesterfield’s high street. We’re delighted to play a part in supporting local employment and helping to re-energise this part of the city.”

Chesterfield Market Square has reopened to shoppers following a multi-million-pound revamp orchestrated by Chesterfield Borough council and funded by the government’s Levelling Up Fund.

Oliver Marshall of FHP Property Consultants said: “The letting to Tesco adds to the revitalisation of the heart of the town and shows the continued appetite for well-positioned, quality retail space in busy high street locations. This unit is right in the heart of the city, surrounded by other strong retailers, and we’re confident it will perform extremely well.

We also have two further units of c. 5,000 sqft remaining in the building on the ground floor of the building, facing the Market Square. Whilst we have had some good interest, we are keen to discuss this with any other interested parties”.