St Modwen selected as development partner for major mixed-use development in Cheltenham
St Modwen has been chosen by Midlands Land Portfolio Limited (MLPL), the property development arm of Severn Trent (represented by CBRE), as its development partner for a 154-acre site to the west of Cheltenham as part of a wider mixed-use development known as The Golden Valley Development.
The site is adjacent to the Government Communications Headquarters (GCHQ) and the National Cyber Security Centre and forms part of a key strategic allocation within the Joint Core Strategy. It includes the delivery of approximately 3000 new homes, a mixed-use Cyber Central Cluster bringing together leading cyber businesses and innovators alongside academic facilities dedicated to cyber and technologies, and significant infrastructure improvements.
St Modwen will draw on its development expertise and strong track record regionally and nationally in delivering a mixed-use development with community at the heart. A planning application for the development could be brought forward as early as 2021 and will include new homes as well as formal and informal green space and community assets that will complement the development of the cyber-related employment uses.
The development is one of the most significant residential opportunities in the South West and is aligned to St Modwen’s strategy of securing strategically located development opportunities in partnership with organisations or businesses with whom it shares similar objectives and values.
Cheltenham is a highly desirable market and was voted the best place to live in the South West in 2020 by The Sunday Times, reflecting its cultural vibrancy, quality of education, broadband speed, green spaces and the health of its high street.
As well as working closely with MLPL, St Modwen looks forward to collaborating with the adjoining community, other landowners that make up the allocation and key stakeholders, including Cheltenham Borough Council and Tewkesbury Borough Council.
Guy Gusterson, Managing Director of Strategic Land & Regeneration at St Modwen, says: “The West Cheltenham development presents a unique opportunity to shape and deliver a new community next to a globally recognised hub for cyber security. The development team and I are excited to work in partnership with MLPL on this regionally significant development which will deliver much-needed housing as well as jobs. We will work with local stakeholders to deliver a diverse new community where new homes will sit amongst green shared spaces as we deliver a vibrant, sustainable and richly deserving scheme. Our unique approach and ability to deliver new developments with a focus on placemaking will again be demonstrated at West Cheltenham.”
Julie Rossiter, Head of Property Development at Severn Trent, says: “We are delighted to be working alongside St Modwen, a highly experienced Midlands based property development company, to take this project to the next stage. We are confident that by bringing St Modwen’s expertise to this scheme that together, alongside the other major stakeholders involved, we will help to realise the vision for the Golden Valley Development. This regionally and nationally significant development will be bringing much needed new jobs and sustainable housing to the area. We at Severn Trent are particularly pleased that we are able to recycle our redundant land assets for the benefit of the communities in which we operate.”