Property business Henry Boot to take part in scheme which aims to create 12,000 jobs near GCHQ headquarters

A Yorkshire-based property business is involved in a major redevelopment scheme that is set to create 12,000 jobs

Henry Boot has provided an update on the new venture for the City of London

Henry Boot s property development business, HBD, and international tech campus developer, Factory, are to form a new joint venture, HBD X Factory, targeting the UK tech sector.

HBD X Factory has been selected as preferred bidder to deliver a development at Cheltenham Borough Council's Golden Valley Development.

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In a statement, Sheffield-based Henry Boot said: "The Golden Valley Development covers 200-acres and is expected to create 12,000 new jobs, 3,700 new homes and 2million sq. ft. of commercial space, with Cyber Central UK at the heart of a visionary integrated campus focused on cyber and digital innovation.

"The project builds on the presence of GCHQ's headquarters and Cheltenham's existing cyber sector, with the first phase delivering an innovative, mixed use community clustered around Factory's first project of scale in the UK - Factory Cheltenham - which will sit alongside GCHQ.

"HBD X Factory will continue to explore new opportunities across the UK, including acquisitions and public/private partnerships with local authorities and other strategic landowners, as it targets large-scale, mixed-use districts and urban regeneration projects with a focus on innovation."

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."