Developer targets UK tech sector with new JV

Ed Hutchinson
X The Business Desk

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HBD, the property development arm of Henry Boot is forming a new joint venture with international tech campus developer Factory.

The new venture, HBD X Factory will look to target the UK tech sector and has been selected as the preferred bidder to deliver 45-ha at Cheltenham Borough Council’s Golden Valley Development.

The Golden Valley Development which covers 200-acres is expected to create 12,000 new jobs, 3,700 new homes and 2million sq. ft. of commercial space, with Cyber Central UK at the heart of a visionary integrated campus focused on cyber and digital innovation. The project aims to 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.

Following the launch of the new JV 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, 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.”

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