Extensive search sees high-calibre potential development partners shortlisted for Golden Valley Development.
Cheltenham’s £400m Golden Valley Development has taken a significant step closer with the announcement that six potential development partners have been shortlisted after an extensive search closed earlier this month.
One of the UK’s flagship schemes, the Golden Valley Development, located on a 200 ha site adjacent to GCHQ in West Cheltenham will deliver a world-class mixed-use development and will feature Cyber Central, the UK’s first campus focused around the rapidly growing cyber-tech sector. It will also provide over 3,000 homes in an exemplar Garden Community.
Tim Atkins, managing director for place and growth, said: “The reaction and response to the search for a development partner for the Golden Valley Development has been overwhelmingly positive. The calibre of the submissions has been exceptional, just recognition of the scale and significance of the opportunity we have in front of us. We’re absolutely delighted therefore to have six strong candidates to take forward to the next stage and will now be entering into further detailed dialogue with these potential partners over the coming months. We hope to be in a position to announce our appointed partner in spring 2021.”
Cllr Andrew McKinlay, cabinet member for development and safety, said: “Here in Cheltenham, we are already seeing significant growth in the cyber and technology sectors, with eleven times the density of cyber related businesses in the town compared to the national average. The Golden Valley Development will super-charge this growth, putting Cheltenham on a global stage and creating huge opportunities for the town and our communities. The economic boost will be felt across the whole town and beyond, with a ripple effect that will benefit supply chains, transport infrastructure and cultural and leisure services far beyond the Golden Valley site alone.”
Having been awarded this prestigious Garden Community status by Homes England last year, the Golden Valley Development will have sustainability at its core with pioneering design principles around the use of open space, community wellbeing and the provision of 3000+ homes that meet the changing needs of future communities. The new Supplementary Planning Document for the site, adopted by Cheltenham Borough Council last week, will be a key enabler in realising this vision and will help to guide the delivery of one of the most innovative and exciting large-scale developments in the country.
Cheltenham Borough Council has demonstrated its long-term commitment to the development with the acquisition of 45 ha of allocated land. This investment of £37.5million is the biggest single purchase ever made by the Council. It has up to £180m further funding available for the delivery of high-quality homes. It is expected that the first phase of the development – Cyber Central UK – will be completed by 2023.