Joint venture selected for £1bn Golden Valley Development
Cheltenham Borough Council has picked Henry Boot Developments and tech developer Factory as preferred development partner for the first phase of the Golden Valley Development.
The joint venture HBD X Factory will bring forward the first phase at the £1bn UK Cyber Central campus and Innovation Zone.
Factory Cheltenham at the Cube Innovation Zone will be Factory’s first project of scale in the UK, following on from schemes in Berlin.
Cheltenham Borough Council has picked Henry Boot Developments and tech developer Factory as preferred development partner for the first phase of the Golden Valley Development.
The joint venture HBD X Factory will bring forward the first phase at the £1bn UK Cyber Central campus and Innovation Zone.
Factory Cheltenham at the Cube Innovation Zone will be Factory’s first project of scale in the UK, following on from schemes in Berlin.
The council instructed Avison Young to launch a hunt for a partner last year to develop the 500-acre site next to GCHQ. The wider Golden Valley Development is expected to provide 2m sq ft of cyber, digital and creative employment space and 3,700 homes.
HBD and Factory will act as master developer for the site and, after securing planning consent, will deliver early infrastructure and commercial space. The development will aim for a zero carbon target and use smart technology to support mobility and biodiversity.
Cheltenham Borough Council will invest £220m in the scheme. This includes the £37.5m acquisition of more than 100 acres of unconsented land in its largest single purchase to date, and a further £180m dedicated to housing. It will work with adjoining landowners to develop the scheme.
Matt Warman, minister for digital infrastructure, said: “Cheltenham is an engine of growth for the UK’s cyber security sector and the Golden Valley Development will play a major role cementing the country’s place as a global leader in the field. We are investing to help cyber security businesses across the country tackle barriers to growth and boost people’s digital skills so we can usher in a golden age in UK tech.”
Tim Atkins, managing director for place and growth at Cheltenham Borough Council and project lead for the Golden Valley Development, said: “At the heart of this development is the community. It will provide high value employment, sustainable housing, recreational facilities to support all residents and employers and will make a significant contribution to Cheltenham’s zero carbon journey.”
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Photo: Cheltenham Borough Council
