'Silicon Valley of the UK can now happen'

The creation of what could be "the UK's Silicon Valley" is set to go ahead now vital funding has been allocated for a revamp of an M5 junction.

Council leaders say the vision for Cheltenham's Golden Valley Project is becoming a reality after Homes England allocated £71.5m for improvements to the motorway junction.

The money will help unlock land for a 20,000-home development. It would also support the creation of a technology cluster near GCHQ, which could bring 12,000 jobs to the area and include a new National Cyber Innovation Centre.

Councillor Rowena Hay, leader of Cheltenham Borough Council, said: "Junction 10 means that a 20-year vision of delivering that entire project can now happen."

"What we saw as a vision in 2017 and now with that funding for Junction 10, that makes the whole scheme a reality," she added.

"We've got outline planning permission and now a reserved matters application is in. We are full steam ahead."

Councillor Lisa Spivey, Gloucestershire County Council leader, said Shire Hall has been behind the Golden Valley project which she believes could be the "Silicon Valley of the UK".

"It's a really exciting project for Gloucestershire," she said.

"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'.

"This could be the Silicon Valley of the UK. It has world leading potential."

When completed, work on the new junction will allow traffic to enter and exit the carriageway in both directions, according to the Local Democracy Reporting Service.

The total scheme is budgeted at £372m and work on it could begin as early as autumn of this year.

Funding for the project is made up of £286m from the government's housing infrastructure fund, and £40m secured against future capital and community infrastructure levy receipts,

About £32m for the scheme is from contributions from developers whose sites will directly benefit, and some £10m in funding from district councils.

A further £4m is coming directly from Gloucestershire County Council.

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