Developer on verge of submitting plans for multi-million pound technology campus
Developer Henry Boot has revealed that it is about to submit a planning application for a scheme that could create up to 12,000 jobs in Cheltenham.
The technology hub centred around Cheltenham’s Golden Valley is one of the biggest economic development projects in the South West.
The news came in a market update released by Henry Boot and its property development arm HBD.
The company said HBD is preparing to submit a planning proposal for the first phase of the scheme which includes the delivery of a mixed-use campus clustered around 150,000 sq ft of innovation space.
Henry Boot’s share of the first phase of the project is an estimated £50m.
HBD and international tech campus developer Factory have formed a joint venture, HBD X Factory, targeting the UK tech sector.
HBD X Factory has been selected as preferred bidder to deliver the development at the Cheltenham Borough Council site next to GCHQ’s offices.
The Golden Valley Development covers 200-acres and is expected to create 12,000 new jobs, 3,700 new homes and 2million sq. ft. of commercial space.
The technology hub known as Cyber Central UK will be at the heart of the integrated campus which will be focused on cyber and digital innovation.
The project will build on the presence of GCHQ’s headquarters and Cheltenham’s existing cyber sector, with the first phase delivering an innovative, mixed use community clustered around Factory’s first project of scale in the UK – Factory Cheltenham – which will sit alongside GCHQ.
HBD X Factory will continue to explore new opportunities across the UK, including acquisitions and public/private partnerships with local authorities and other strategic landowners, as it targets large-scale, mixed-use districts and urban regeneration projects with a focus on innovation.
Ed Hutchinson, managing director of HBD, has said: “The HBD X Factory partnership reflects our focus on delivering large-scale, transformative regeneration projects – the Golden Valley Development is a hugely important project for Cheltenham, the South West region and the wider UK tech sector and we look forward to working alongside Factory to bring the scheme forward.”