HBD is buying out Factory's share in HBD x Factory Ltd. – the joint venture established to deliver the £1bn Golden Valley Development in Cheltenham – in an undisclosed multi-million-pound transaction.

After steering this project for a few years now, together with our partners HBD, this transaction leaves a bittersweet feeling for me in particular, and also for the team here at Factory. As we part ways with close friends, colleagues, and an exciting emerging project, we’re energized about what’s ahead.

First a quick recap:

Despite our earlier-than-expected departure, we're proud of what we’ve already accomplished, staying true to the key priorities we outlined.

→ Progress Golden Valley’s position as a leading UK science and technology hub. From developing an innovative masterplan, organizing numerous events, securing features in renowned publications, and more, Golden Valley has transitioned from what was a napkin idea to a deliverable neighborhood. With our Planning Application now submitted, £95m commitment to fund the first building, and recent £20m government pledge to phase one, this becomes even more tangible.

→ Help build bridges within Cheltenham, and beyond. “I’m finally seeing faces I don’t know”, a local entrepreneur told me once. Our early thesis was simple. Gather diverse audiences across the tech, creative, and impact sectors, and key local stakeholders – this ‘right mix of minds’ will encourage innovation. With hundreds engaged and trade delegations to Finland, Portugal, Estonia, and more now behind us, Cheltenham’s ecosystem is now seeing the benefits of a wider network effect.

→ Foster Cheltenham’s startup state of mind. Founders are the beating heart of an innovation ecosystem, and this is something we wanted to support and grow. With the launch of our Cheltenham Manifesto, Stories from Cheltenham series featuring local innovators, and countless sessions with local entrepreneurs, we’d like to think we started to move the needle. Seeing local founders now growing their businesses into Europe is one exciting outcome.

→ Have fun. We’ve made some great friends along the way. With any complex multi-stakeholder projects, it’s often more than just business. It’s been a pleasure to work with new colleagues and partners who have become close friends over the years.

As always, we remain committed and excited to supporting districts, cities, and countries in their efforts to attract innovators and build technology hot spots. This is a personal passion and a shared obsession our team has built a business around. And we’ll continue collaborating with visionaries who share this same passion.

More news on these plans soon.

But for now, we’d like to thank all the supporters and friends who’ve been with us on this journey. There are far too many to list, so we’ll leave it at that.

Cheltenham, don’t be a stranger. :)

[This article was originally published via LinkedIn.]