HENRY BOOT’S HBD, IN JOINT VENTURE WITH FACTORY, APPOINTED AS DEVELOPMENT PARTNER FOR CHELTENHAM’S £1 BILLION GOLDEN VALLEY
Henry Boot PLC announces that HBD X Factory, a joint venture between HBD, the Group’s property investment and development business, and Factory, the international tech campus developer, has been formally appointed by Cheltenham Borough Council as the development partner to deliver the first phase of the £1bn Golden Valley Development (GVD) in Cheltenham, Gloucestershire.
Located in the centre of the UK’s cyber community, the entire Golden Valley Development spans over 200 acres and will provide 3,700 new homes, almost 12,000 new jobs and 2 million sq ft of commercial space at the heart of a visionary integrated campus focused on cyber and digital innovation.
The first phase will be the delivery of a mixed-use community clustered around Factory’s first project of scale in the UK, a 150,000 sq ft innovation space that will serve as the new National Cyber Innovation Centre.
HBD X Factory is currently progressing a variety of design options in advance of a public consultation programme, prior to submitting planning applications, including a masterplan framework for the site and detailed proposals for the Innovation Centre. Sustainability will be a key consideration for the project, which is targeting net zero carbon. Smart technology coupled with innovative design and modern methods of construction will minimise energy output and carbon impact across all elements of the project’s development and subsequent operation. The ambitious project is playing a significant role in the UK Government’s Levelling Up agenda, alongside its recently launched UK Cyber Strategy.
Tim Roberts, CEO of Henry Boot PLC, commented: “HBD’s ability to secure the development contract for this nationally significant project is testament to its track record in delivering large-scale, transformative regeneration schemes. HBD’s pioneering joint venture with Factory provides an additional competitive edge, combining our exemplar sustainable construction techniques with Factory’s technical expertise, presenting an exciting opportunity to deliver upon the JV’s visionary ambitions and access the enormous potential of the UK’s tech sector whilst supporting the Levelling Up agenda.”
The HBD X Factory joint venture was established in August 2021 specifically to target developments in the UK tech sector. 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.
