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CHELTENHAM, UK - Property developer Henry Boot PLC announced that its property investment and development arm, HBD, has secured outline planning consent for the first phase of Golden Valley, a £1 billion regeneration project in Cheltenham.
The approved phase includes approximately 1 million square feet of commercial space, featuring a 160,000 square foot National Cyber Innovation Centre called IDEA, along with 576 residential units. Construction is expected to begin later this year, according to the company’s statement.
The 200-hectare development is located adjacent to GCHQ, the UK’s intelligence and security agency, and aims to strengthen the country’s capabilities in cyber security, AI, and quantum technologies. When completed, the entire project is expected to provide around 2,500 new homes, 1.25 million square feet of commercial space, and support the creation of nearly 12,000 jobs.
The project has secured a £104 million funding package, including £20 million directly from the UK government, supplemented by private sector investment. HBD was appointed as Development Partner by Cheltenham Borough Council in 2022 and submitted the outline planning application in October 2023.
Tim Roberts, CEO at Henry Boot, called the planning approval "a major milestone" and "a superb example of public and private sector collaboration." Dr. Marsha Quallo-Wright, GCHQ Director of Technology Futures, confirmed GCHQ’s involvement in the project, stating they look forward to collaborating with academia and industry.
A separate outline planning application for an additional 443 homes is expected to be determined in the coming weeks, according to the press release.
The Golden Valley development is referenced in the UK’s Cyber Security Strategy and is designed to attract investment in cyber and deep tech industries while generating economic benefits for Gloucestershire, the South West, and the UK.
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