Cheltenham Borough Council in the UK has published a document inviting bidders to become their development partner to deliver a mixed-use development, the Golden Valley Development in Cheltenham. The project is of national significance supported by the Department of International Trade.

The Golden Valley Development proposes a mixed-use development incorporating Cyber Central as the UK capital for Cyber excellence. It will act as a dedicated hub to inspire collaboration, growth, research and development of cybersecurity businesses, technology and skills. The proposed development of land extends to 200 ha, with development parameters for the wider site of up to c.3 700 homes and c.2 million square feet (c.185 000 m2) of commercial accommodation.

Cheltenham Borough Council has acquired 45 hectares of land in the strategic allocation and will be inviting parties to bid to become the Council's Development Partner to deliver this important mixed-used opportunity. The Council propose to bring this first phase forward as a single development package, where it is anticipated that the successful bidder will act as a master developer and bring forward the commercial space to secure the Council objectives for the project. The Council can further support delivery with up to GBP 180 m on investment in housing for innovative and high-quality solutions.

The estimated GDV of the mixed-use development on the 45 hectares of land that the Council has acquired is a minimum of GBP 400 million (US$ 495.91 million), assuming that delivers 650 dwellings and a significant proportion of the commercial space. However, there may be additional stakeholders included in the procurement and additional land may become part of the scope. With that in mind, the estimated value of the procurement is a range of GBP 400 million (US$ 495.91 million) to GBP 2 billion (US$ 2.47 billion) increasing the development numbers considerably. It is envisaged that the duration of the contract will be between 15 and 25 years, and this will depend on whether additional third party land is brought within the scope of the procurement.

The background to the project and the specifics of the procurement are explained in more detail in the Memorandum of Information which can be found in the project profile.

The deadline for receipt of selection questionnaires is July 10, 2020. You can find more information about this tender notice on our business opportunity page here.