RCS - Boot(Henry) PLC - Planning secured for £1bn regeneration project

Henry BootAnnouncement

04/07/2025 15:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250704:nRSD8657Pa&default-theme=true

RNS Number : 8657P  Boot(Henry) PLC  04 July 2025

Henry Boot secures green light for first phase of £1bn government backed
cyber defence, AI and quantum technology focused scheme

 

Henry Boot announces that HBD, the group's property investment and development
arm, has secured outline planning consent for phase one of Golden Valley,
Cheltenham. The 200-hectare flagship regional regeneration project will
eventually provide around 2,500 new homes, 1.25 million 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 1
million sq ft of prime 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 residential units of various tenures,
supporting Cheltenham's housing needs. HBD will prepare to begin construction
later this year.

 

The £1 billion(1) Golden Valley innovation and technology project 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 is an important public private partnership, having
secured a £104 million funding package, including £20 million direct from
the UK government, complemented by significant additional private sector
investment.

 

This underlines strong public sector commitment to the development's success,
which is referenced in the UK's Cyber Security Strategy.

 

Golden Valley will attract high-value investment and enhance skills
development in cyber and deep tech industries. It will generate significant
economic benefits for Gloucestershire, the South West and the UK, while
strengthening Britain's position as a global leader in secure innovation.

 

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, commented: "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."

Dr Marsha Quallo-Wright, GCHQ Director of Technology Futures: "We welcome this
decision and are pleased to confirm our presence on this important project. We
look forward to working alongside academia and industry to enhance our ability
to address emerging security challenges, foster innovation and support the
region's growth. By strengthening these collaborations, we will tap into new
expertise, share knowledge and help shape the skills needed for the future,
all of which are vital to supporting our mission to keep the UK safe."

Cllr Rowena Hay, Leader at Cheltenham Borough Council said: ''This is
excellent news; securing outline planning consent for the first phase marks a
significant step forward in the delivery of Golden Valley. We are aware that
there are a number of planning obligations that have to be formalised through
the conclusion of the Section 106 agreement, and we also acknowledge how
important our partnership working will be with colleagues at the county
council to secure infrastructure commitments so that we can deliver the full
benefits of Golden Valley to our local communities.''

 

(1) Gross Development Value (GDV)

ENDS

 

Notes to editors

Henry Boot is one of the UK's leading land, property development, home
building and construction businesses - and we've been transforming land and
spaces since 1886. Listed on the London Stock Exchange since 1919, we're
renowned for quality, expertise, delivery and a partnership approach across
the group - which comprises, Hallam Land, HBD, Stonebridge, Henry Boot
Construction, Banner Plant and Road Link.

 

Operating across the UK, and employing over 500 people, we focus on three key
markets: urban development, industrial and logistics and residential. Hallam
Land manages one of the top five largest land portfolios in the country, with
the potential to facilitate over 100,000 homes. HBD manages a development
pipeline of £1.2bn, the equivalent of 6m sq ft of developments across our key
markets, while maintaining a £107m investment portfolio, of which 72% of the
properties have an EPC rating of 'C' or higher. Stonebridge, our jointly owned
home building business, manages a land portfolio capable of delivering 1,700
homes, with an ambition to deliver up to 600 new homes a year.

 

Henry Boot Construction has extensive experience in both the public and
private sectors, including major projects such as the £200m regeneration of
Barnsley town centre, and The Cocoa Works, a £57m residential development in
York. For over 65 years, Banner Plant has supplied construction products and
services, operating from seven regional depots in the North of England.

 

We have also developed an ambitious Responsible Business Strategy to help us
meet our aim of being Net Zero Carbon by 2030, and to deliver, by 2025,
charitable, community and education work valued at £1m.

 

From land promotion, property development and investment to home building,
construction and plant hire, Henry Boot is where great places start.

 

henryboot.co.uk (http://www.henryboot.co.uk/)

 

Enquiries

 

FTI Consulting

Richard Sunderland / Giles Barrie

07894 797067 / 07798 926814

henryboot@fticonsulting.com

 

Henry Boot PLC

Tim Roberts, Chief Executive Officer

Darren Littlewood, Chief Financial Officer

Daniel Boot, Senior Corporate Communications Manager

07825 088807

dboot@henryboot.co.uk

henryboot.co.uk

 

Deutsche Numis

Joint Corporate Broker

Ben Stoop / Tom Philpott

0207 260 1000

 

Peel Hunt LLP

Joint Corporate Broker

Ed Allsopp / Pete Mackie

0207 418 8900

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAUSASRVOUBRAR