Henry Boot has secured outline planning consent for phase one of the £1bn Golden Valley development in Cheltenham.

The 200-hectare regional regeneration project will eventually provide around 2,500 new homes, 1.25m sq ft of commercial space with the National Cyber Innovation Centre at its heart, and support the creation of almost 12,000 jobs.

The outline planning consent allows for a development comprising around 1m sq ft of commercial space, including IDEA - the new 160,000 sq ft National Cyber Innovation Centre referred to in the UK government’s Modern Industrial Strategy - as well as 576 properties.

HBD, Henry Boot’s property investment and development arm, will prepare to begin construction later this year.

Golden Valley is located adjacent to GCHQ, the UK’s intelligence, security and cyber agency.

The development aims to further strengthen the UK’s leadership in cyber, AI, quantum technologies and secure communications, supporting national security, economic resilience and industrial expansion.

HBD was appointed as development partner for Golden Valley by Cheltenham Borough Council in 2022, before submitting an outline planning application in October 2023.

The scheme has secured a £104m funding package, including £20m direct from the UK government, complemented by significant additional private sector investment.

A separate outline planning application for an additional 443 homes is also due for determination in the coming weeks.

Tim Roberts, CEO at Henry Boot, said: “Securing planning permission marks a major milestone for both Henry Boot and the future of UK innovation.

“Golden Valley is a significant development and a superb example of public and private sector collaboration working well, committing regional investment that will strengthen the UK’s capabilities in the highly important cyber security and emerging technology sectors. It is also testament to the expertise and dedication of our development team.

“Unlocking land for developments that create jobs, opportunities and economic growth, while delivering sustainable returns for our investors, is central to our long-term strategy.”