In a strategic business move, HBD has become the sole developer of the £1 billion Golden Valley Development in Cheltenham, following the acquisition of its partner, Factory, in a multi-million-pound deal. This development represents a major step in the project’s progression.

The Golden Valley Development, initially a collaborative effort between HBD and Factory, has now transitioned to being solely under HBD’s management after the buyout. Factory is refocusing on its existing portfolio and new projects. The partnership between the two companies had been fruitful, leading to significant advancements in real estate projects across the UK.

The development has seen recent progress, including an official planning submission and securing substantial funding. Cheltenham Borough Council has approved £95 million for the first building of the project, the proposed National Cyber Innovation Centre. Additionally, the project has received £20 million from the government’s Department for Levelling Up, accelerating the first phase of development.

Adam Brady, Director of HBD, emphasized the importance of partnerships in their business strategy, acknowledging Factory’s role in advancing the Golden Valley Development. Jeremy Bamberg, Co-founder of Factory, reflected on their commitment to developing innovation hubs in collaboration with local governments, developers, and landowners.

The 47-hectare Golden Valley Development is set to include an innovation district with over a million square feet of commercial space aimed at science and technology businesses. The project also plans to construct over 1,000 sustainable new homes, a new primary school, and an extensive network of green spaces, positioning it as a new garden community.

HBD is now responsible for all operations of the venture, aiming to commence the first phase by summer 2026. This development presents a significant opportunity for the region, potentially attracting investment and boosting the local economy.