New £8.4m Cyber hub in Cheltenham nearing completion

The Minster Exchange has cost £8.4m and is expected to bring cyber and tech to the town centre.

A building to house workers from the cyber and tech industries in Gloucestershire is expected to open next month.

The Minster Exchange (MX) has taken seven years and will also house those in the creative industry such as the Cheltenham Festivals.

It's cost around £8.4m with funding from public and private sources.

The MX spans 20,000 square feet of innovation facilities, a growth hub to support business development, café and space for events and education.

The majority of the work inside is complete with finishing touches being made to the exterior

The external Minster Gardens area has benefitted from new pathways, seating, lighting, CCTV and greenery.

Bruce Gregory, the managing director at Hub8 by Plexal - which has worked in Partnership with Cheltenham Borough Council on the project - said the new style building "celebrates the oldest part" of the tow.

"St Mary's dates back to the eleventh century and it's the historic centre of Cheltenham.

"This was where all the trading and commerce used to take place. And this is where we want it to happen again.

He added the facility was "about the future of the town".

Tenants are already being invited to rent out some of the office space

Hub8 by Plexal has opened applications for a new 'Grown in Cheltenham' programme.

It is an opportunity for Cheltenham-based founders to fast-track their companies with six months of free, tailored business support.

Tim Cadbury, accounting firm Infinite CFO, was keen to use the facility to grow his business.

"People are keen to work in person more and more with each other and we actually started life as a business in the previous hub8," Mr Cadbury said.

"We are really keen to be able to support the local community and the next stage of our growth and the next stage of the development for the tech ecosystem here."

Tim Cadbury (pictured) said InfiniteCFO is has already committed to renting office space in the MX

Council Leader Rowena Hay was "almost speechless" after being shown around.

"It's actually what I'd describe it as a Tardis. When you stand at the entrance you don't really see actually quite how big it is."

Councillor Hay added the borough council may use the MX in future as a place for "the council to meet".

It is hoped the new centre will compliment the Golden Valley project which will be built in the west of the town in the coming years.