A pioneering project to build the 海角视频’s first cyber business park near GCHQ in Cheltenham is to be delivered by a joint venture of two developers, it has been announced.
The Golden Valley Development - a 200-hectare scheme being planned by Cheltenham Borough Council and Tewkesbury Borough Council - will see green fields close to the 海角视频’s intelligence and cyber agency transformed into a huge campus and thousands of homes.
HBD X Factory, a joint venture between 海角视频 property developer HBD and the international innovation campus developer Factory, have been selected as the preferred development partner.
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The project will transform the site into a multi-use development with 3,700 homes, two million square feet of commercial space and the 海角视频’s first cyber-focused campus - Cyber Central - which will be home to cyber-related businesses.
According to Cheltenham and Tewkesbury Borough Councils, the project will create up to 12,000 new jobs.
HBD X Factory will be responsible for bringing forward the £1bn first phase. This will include 海角视频 Cyber Central and its Innovation Zone.
The councils said they are planning to reach a contract close with the developer in Q1 2022, with a planning application to follow later next year - and construction after that.
Matt Warman, minister for digital infrastructure said: “Cheltenham is an engine of growth for the 海角视频'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.
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“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 海角视频 tech.”
Councillor Rowena Hay, leader of Cheltenham Borough Council, said the decision to choose HBD X Factory followed a “thorough” procurement process. The developer search was led by real estate advisor Avison Young.
“Having demonstrated they have the experience and ability to deliver the council’s objectives and aspirations HBD X Factory was selected as the preferred partner,” she said.
HBD X Factor will act as a “master developer” and will be responsible for securing planning permission and delivering infrastructure across the site.
It will also deliver commercial space and the innovation centre for the Golden Valley Development, Ms Hay said.
“I am so proud that Cheltenham is on the fast-track to become an international destination for the growing cyber security sector whilst maintaining the ethos and character of the town and region,” she added.
According to Cheltenham Borough Council, construction for the Golden Valley Development will use new building methods, with the scheme aiming for reduced energy and carbon impact for the residential and commercial buildings.
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The authority said the aspiration for the development was a net zero carbon target.
Tim Atkins, managing director for place and growth at Cheltenham Borough Council and project lead for Golden Valley Development, said: “HBD X Factory have shown in their submission how they share these goals and more importantly, how these will be transformed into a living breathing entity right here in Cheltenham.
“It will have a hugely positive impact on the town and region prospects, whilst further growing our influence within the global cyber sector.”
Councillor Rob Bird, leader of Tewkesbury Borough Council said the Golden Valley Development would deliver "massive" commercial space for “world-class cyber businesses of the future” and new investment in Gloucestershire.
“There is no doubt in my mind that the impressive progress of this exciting project results from imaginative investment and strong place-making leadership from Cheltenham Borough Council and its partners,” he said.
Jeremy Bamberg of HBD X Factory, added: “There’s so much excitement and momentum in Cheltenham and the wider region; Golden Valley will only accelerate this.”
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