Henry Boot, Factory form joint venture with £1bn scheme

Henry Boot is launching a joint venture with international tech campus developer Factory with the aim of enhancing the development of technology in the UK

The property development business of Henry Boot (HBD) has announced it has formed a joint venture with international tech campus developer Factory as part of a £1bn scheme known as the Golden Valley Development. 

Called HBD X Factory, the joint venture has been chosen to deliver the first phase of the scheme based in Cheltenham, which aims to focus on the development of technology in the UK. Centered around cyber and digital innovation, the development will include 3,700 new homes and 2mn sq ft of commercial space. Phase 1 aims to accommodate 111 acres of the scheme and will be located close to Factory’s first UK tech building near GCHQ. 

Confirming the UK as a leader in cybersecurity 

Minister for Digital Infrastructure, Matt Warman, said the £1bn development would help confirm the UK’s position as a leader in cybersecurity: “We are investing to help cyber-security businesses across the country tackle barriers to growth and boost people’s digital skills so we can usher in a golden age in UK tech.”

Commenting on the partnership, HBD Managing Director Ed Hutchinson 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.”

It is expected that Client Cheltenham Borough Council will submit a planning application for the site in 2022 with Tewksbury Borough Council as a partner. Discussing future plans for the partnership, Henry Boot said the new JV would “focus on developing large-scale mixed-use districts and urban regeneration projects.”

Image: Henry Boot

Share

Featured Articles

Arcadis signs collaboration with Canadian start-up Niricson

Agreement will combine Arcadis’ expertise with Niricson’s predictive analytics platform to develop a non-invasive way to safely inspect and monitor concret

Italy’s Cannon Artes wins $31m Egyptian desalination project

Turnkey contract win from SOPC will see Italian firm deliver an integrated desalination & demineralisation plant as part of modernisation of Suez refinery

Saudi Arabia to build three new stadiums for Asian Cup 2027

Tournament will be hosted across three cities and 10 stadiums, SAFF says

Neoen’s Storen Power Reserve begins construction in Sweden

Construction Projects

Masdar works with African countries on renewable projects

Construction Projects

Select Group awards US$816.7m in construction contracts

Construction Projects