UK’s ‘Silicon Valley’ near GCHQ in Cheltenham a step closer
Vital funding has been allocated for a revamp of junction 10 of the M5
The creation of what could be the UK’s “Silicon Valley” next to GCHQ in Cheltenham is a step closer now vital funding has been allocated for a revamp of junction 10 of the M5.
Council leaders say the vision of the Golden Valley Project is becoming a reality thanks to Homes England’s recent announcement that an extra £71.5m to go towards the motorway project.
The £372m motorway scheme is seen as transformational for the county and a new junction will unlock land for 20,000 new homes.
And it will also support the creation of a potentially “world leading” technology cluster with around 12,000 skilled jobs at the Golden Valley development and National Cyber Innovation Centre near GCHQ.
The junction improvements provide access in all directions on and off the motorway.
Gloucestershire County Council leader Lisa Spivey (LD, South Cerney) said Shire Hall has been really behind the Golden Valley project which she believes could be the “Silicon Valley of the UK”.
Shire Hall and Cheltenham Borough Council leaders have held discussions with GCHQ who have international partners who would invest 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’.
“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 not be able to bring their flagship project to fruition without improvements to the motorway junction.
“Without junction 10, we could only bring forward half of it,” she said. “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 total budget for junction 10 is now £372m and construction work is expected to begin in the autumn.
The project also includes a new link road connecting the A4019 to the B4634 in west Cheltenham and widening of the A4019 Tewkesbury Road, as well as new cycle paths and walkways and flood mitigation measures.
Funding for the project is made up of £286m from UK Government’s Housing Infrastructure Fund, administered by Homes England and £40m secured against future capital and community infrastructure levy (CIL) receipts,
A total of £32m for the scheme is from contributions from developers whose sites will directly benefit from the scheme and some £10m in CIL funding from district councils and £4m from Shire Hall.