HBD, the property investment and development arm of Henry Boot, has secured forward funding for the first phase of the £1bn Golden Valley mixed-use development in Cheltenham.
The development, which is central to the UK’s National Cyber Strategy, will create around 1m sq ft of commercial space alongside new homes across a range of tenures.
Phase one, which has a GDV of £95m, comprises IDEA the 160,000 sq ft innovation centre, together with ROUTER, a next generation transport hub and supporting infrastructure. This phase is fully funded by private sector investment and Cheltenham Borough Council.
Ed Hutchinson, CEO of Henry Boot, said: “Securing forward funding for IDEA is a major milestone for Golden Valley and for Henry Boot. It underlines the strength of the development, the quality of our expertise and the importance of Golden Valley as a nationally significant innovation and cyber security campus. With the majority of the space in the first phase already let or reserved, we now have strong momentum as we commence construction. Our aim is to deliver a landmark mixed-use destination that supports UK growth, security and innovation.”
Rowena Hay, leader of Cheltenham Borough Council, added: “The delivery of phase one demonstrates our commitment to creating an internationally recognised development that will deliver lasting benefits for the local, regional and national economy.”
Dr Marsha Quallo-Wright, GCHQ director of technology futures, said: “As the Golden Valley development reaches an important milestone, we’re looking forward to working alongside academia and industry to strengthen our ability to address emerging security challenges, foster innovation and support the region’s growth. Through these partnerships we will draw on new expertise, share knowledge and help develop the skills needed for the future. These collaborations will play an important role in supporting our mission to keep the UK safe.”
