The Golden Valley project near GCHQ could create 12,000 jobs and become a world-leading technology cluster, say council leaders
A CGI of the Golden Valley development near Cheltenham(Image: HBD/CBC)
The creation of what could be Britain’s ‘Silicon Valley’ next to GCHQ in Cheltenham has moved significantly closer following the allocation of crucial funding for the M5 junction 10 upgrade. Local authority chiefs say the Golden Valley project vision is taking shape following Homes England’s recent confirmation of an additional £71.5m towards the motorway scheme.
The £372m motorway development is regarded as transformative for the county, with the new junction set to unlock land for 20,000 new homes.
It will also facilitate the establishment of a potentially “world leading” technology hub, creating approximately 12,000 skilled positions at the Golden Valley development and National Cyber Innovation Centre near GCHQ.
The junction enhancements will provide access in all directions on and off the motorway.
Gloucestershire County Council leader Lisa Spivey (LD, South Cerney) said Shire Hall has strongly supported the Golden Valley project, which she believes could become the “Silicon Valley of the UK”.
Shire Hall and Cheltenham Borough Council leaders have engaged in discussions with GCHQ, whose international partners are interested in investing in the county, she said.
“We’ve met with them,” she said. “It’s a really exciting project for Gloucestershire.
“GCHQ see this as not just as an extension of a bit of Government stuff with an innovation centre”.
“They are like ‘we have partners from around the world who would come here and who would invest because they know we are doing it’.
Computer generated image of junction 10 of the M5 in Gloucestershire(Image: Local Democracy Reporting Service / GCC)
“If they know that there is a real bit of impetus behind it. Then they will come here. This could be the Silicon Valley of the UK. It has world leading potential.”
Cheltenham Borough Council leader Rowena Hay (LD, Oakley) said they would be unable to deliver their flagship scheme without upgrades to the motorway junction.
“Without junction 10, we could only bring forward half of it,” she explained. “Junction 10 means that a 20 year vision of delivering that entire project can now happen.
“Without the partnership working between all the districts recognising the importance to Gloucestershire of junction 10.
“What we saw as a vision in 2017 and now with that funding for junction 10, that makes the whole scheme a reality.
“We’ve got outline planning permission and now a reserved matters application is in. We are full steam ahead.”
The overall cost for junction 10 now stands at £372m, with building work anticipated to commence this autumn.
The scheme also encompasses a fresh link road connecting the A4019 to the B4634 in west Cheltenham and widening of the A4019 Tewkesbury Road, alongside new cycle routes and footpaths plus flood prevention measures.
Project financing comprises £286m from the UK Government’s Housing Infrastructure Fund, managed by Homes England, and £40m secured against future capital and community infrastructure levy (CIL) receipts.
The scheme’s total funding of £32m comprises developer contributions from sites that will directly benefit, alongside £10m in Community Infrastructure Levy funding from district councils and £4m from Shire Hall.
