Henry Boot launches new tech JV after £1bn Golden Valley win

Grant Prior 1 year ago
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Henry Boot’s property development business, HBD, and international tech campus developer Factory have formed a new joint venture following a £1bn contract win.

The new HBD X Factory joint venture has been chosen as development partner by Cheltenham Borough Council for the £1bn first phase of The Golden Valley Development.

The overall Golden Valley Development will span over 200 hectares providing 3,700 new homes and 2 million square feet of commercial space for cyber and digital technologies.

The project builds on the presence of GCHQ’s headquarters and Cheltenham’s existing cyber sector, with the 45 hectare first phase delivering a mixed use community clustered around Factory’s first project of scale in the UK – Factory Cheltenham – which will sit alongside GCHQ.

The HBD X Factory joint venture will use the win as a springboard to target further UK tech sector projects with a focus on large-scale, mixed-use districts and urban regeneration projects.

Ed Hutchinson, Managing Director of HBD, said: “The HBD X Factory partnership reflects our focus on delivering large-scale, transformative regeneration projects – the Golden Valley Development is a hugely important project for Cheltenham, the South West region and the wider UK tech sector and we look forward to working alongside Factory to bring the scheme forward.”

Construction for the Golden Valley Development will employ new, innovative methods to deliver above current building requirements with reduced energy and carbon impact for both the residential and commercial buildings.

In addition, the infrastructure will consider smart technology solutions advancing the development in terms of mobility, biodiversity and resilience.

Further detail on how sustainability and new technology will be incorporated into the scheme will be created alongside the development proposals and planning application, with the aspiration of net zero carbon target.

The Golden Valley Development is planning to reach a contract close with the preferred developer in Q1 2022, with a planning application to follow later in 2022, leading to the start of construction and completion of the first phases.

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