Construction has started on the £1bn ($1.3bn) Golden Valley development in Cheltenham, UK, after Henry Boot’s property development arm HBD secured forward funding for the first phase of the project.
The mixed-use scheme is expected to play a key role in the UK’s National Cyber Strategy, providing about one million square feet of commercial space alongside new housing.
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The initial phase of the project, valued at £95m, will deliver two principal buildings. These include IDEA, a 160,000ft² innovation centre set to house a national security innovation hub, and ROUTER, a new transport facility with infrastructure to promote sustainable travel.
This phase is fully supported by private investment and Cheltenham Borough Council.
IDEA is currently 68% pre-let or under offer, according to HBD, with continued demand reported for the remaining space. The recent funding enables construction to proceed, with completion targeted for early 2028.
Bowmer + Kirkland has been appointed as the main contractor for the first phase.
Henry Boot CEO Ed Hutchinson 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 cybersecurity campus.”
Cheltenham Borough Council leader Rowena Hay said: “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.”
IDEA, the development’s central innovation hub, is set to be 50% more energy efficient than standard office space, aiming to cut annual carbon emissions by 200 tonnes. The site’s masterplan allocates 60% of the area to green space.
Plans for IDEA also include an integrated Skills Hub offering training and career guidance.
ROUTER, the accompanying transport hub, will feature cycle facilities, e-bike charging, real-time transport information, and over 400 car parking spaces, as well as retail and leisure options for the site.
Phase two of Golden Valley development is expected to include further commercial space, two buildings named INPUT and OUTPUT, totalling 188,000ft², intended for companies in the national security sector.
The wider development also encompasses land with outline consent for up to 443 homes. The land parcel is being actively marketed to a residential partner by HBD.
UK Government Communications Headquarters (GCHQ) Technology Futures director Dr Marsha Quallo-Wright 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.”
The new campus is intended to connect government, industry and academic partners to support regional economic growth and national security.
