Henry Boot’s property arm HBD has secured outline planning consent for the first phase of Golden Valley, the €1.2bn regeneration and technology-led development in Cheltenham, set to become one of the UK’s most significant hubs for cyber, AI, and quantum innovation.
The 200-hectare scheme, located adjacent to GCHQ, will deliver around 116,000m² of prime commercial space and 576 homes in its first phase, including the 14,900m² National Cyber Innovation Centre (IDEA). Once fully realised, Golden Valley is expected to support 12,000 jobs and provide 232,000m² of commercial space and 2,500 homes. Construction is due to begin later this year.
The project has already attracted €122m in public funding, including €23.5m directly from the UK government, showing strong alignment with the UK’s Cyber Security Strategy. As a public-private collaboration, the development will be a catalyst for securing further inward investment and is backed by Cheltenham Borough Council, which appointed HBD as development partner in 2022.
“Securing planning permission marks a major milestone for both Henry Boot and the future of UK innovation. Golden Valley is a significant development and a superb example of public and private sector collaboration working well,” said Tim Roberts, CEO at Henry Boot.
From an investor’s perspective, the long-term value of the commercial space stands out, with potential for anchor tenants in national security, fintech, and deep tech R&D. The location’s proximity to GCHQ and built-in planning for a resilient digital infrastructure offer a compelling edge for developers seeking future-proofed opportunities in the South West. A separate application for 443 homes is also pending, adding further to the residential pipeline.
“We welcome this decision and are pleased to confirm our presence on this important project. We look forward to working alongside academia and industry to enhance our ability to address emerging security challenges,” said Dr Marsha Quallo-Wright, Director of Technology Futures at GCHQ. “By strengthening these collaborations, we will tap into new expertise, share knowledge and help shape the skills needed for the future.”
People mentioned:
Tim Roberts – CEO, Henry Boot
Dr Marsha Quallo-Wright – Director of Technology Futures, GCHQ
Cllr Rowena Hay – Leader, Cheltenham Borough Council
Companies mentioned:
Henry Boot – Developer, parent company
HBD – Development partner
GCHQ – Government cyber and intelligence agency
Cheltenham Borough Council – Local authority and project partner
Image Source: Render (Henry Boot)
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