Cheltenham’s GBP 400 million (USD 516 million) Golden Valley Development has announced 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.”

Cheltenham Borough Council has demonstrated its long-term commitment to the development with the acquisition of 45 ha of allocated land. This investment of GBP 37.5 million (USD 48.4 million) is the biggest single purchase ever made by the Council. It has up to GBP 180 million (USD 232 million) 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.