A huge set of plans for the Golden Valley have been submitted and would bring an estimated £103million economic boost to the area.

The proposals are for a 11.4 hectare swathe of land near GCHQ which is currently undeveloped fields worth more than £15m.

Two outline applications were already submitted in November for other sections of the Golden Valley site.

This latest application by NEMA Golden Valley Limited is for a plot which sits centrally within the wider West Cheltenham JCS allocation.

It proposes 37,560sqm of business space for research and development of products and industrial process.

It would sit alongside 2,475sqm of retail space, 3,750sqm of food and drink venues, 365 homes, a 727sqm healthcare centre and a 8,972sqm transport hub.

The application by NEMA Golden Valley Limited states the development would create 260 full time equivalent jobs during the five year construction.

A further 270 direct and indirect jobs would be associated with the construction phase, many of which would benefit Cheltenham residents.

They would create an estimated £103m GVA (gross value added) over the construction period.

Once complete the development is expected to bring 2,800 on-site jobs and generate £150.5m annually.

It is expected there will be 570 residents with combined income of £8.5m and combined annual expenditure of £6.4m.

Cheltenham Borough Council is hoping the huge £1billion Golden Valley scheme will cement the Regency town as the UK capital for tech and security with The National Cyber Innovation Centre at its heart.

If completed, the 47 hectare site will be one of Europe's largest purpose-built tech campus' and will play a crucial role in achieving the UK's ambition to be a Science and Tech Superpower by 2030.

Two outline applications were submitted in November  by HBD X Factory Limited for plots of land to the east and north of the site.

One, for land owned by Cheltenham Borough Council, details the proposed employment zone that would help foster start-up businesses, innovation, collaboration and growing partnerships.

It would also include 576 homes, 202 of which would be affordable, made up of 179 one-bed flats, 109 two-bed flats, 108 two-bed houses, 128 three-bed houses and 42 four-bed houses.

The other, for 19.3ha of land owned by Severn Trent, has proposals for the new residential neighbourhood aimed at providing a community of homes to support the new employees coming to the area.The NEMA application includes a statement by SF Planning which said it is "imperative" that applicants including HBD and St Mowdens work together to enable the delivery of the overall masterplan."All parties involved in the delivery of the Golden Valley Development agree that the allocation presents a hugely significant opportunity for the town.

"In terms of the growth and evolution of Cheltenham, it is difficult to think of a more important project in recent history.

"However, to realise the true potential of the allocation, all parties need to work more successfully with each other."

It said the Golden Valley SPD (supplementary planning document) drawn up by Cheltenam and Tewkesbury councils sets out a "very clear vision" and the NEMA proposals are "entirely faithful" to that.

The application includes plans for a tree-lined boulevard known as Main Street which the plans said will "deliver a public realm of the highest quality" and is a crucial piece of the wider Golden Valley puzzle.

"Due to its proximity to the proposed innovation centre, and its central location within the broader allocation, Main Street represents that natural commercial centre to the Cyber Central UK zone established within the SPD.

"The connectivity and sense of destination that this feature will create cannot be understated in the delivery of the broader allocation. "

It added: "Main Street will promote public transport as a genuine option for future employees within the broader development. Moreover, it will enable sensible trip dispersion through the site and ensure that commercial traffic movement will not need to run through the residential environments being pursued on the adjacent site."

Secondary access to the site will be provided in a southern location, adjacent to the lower density housing proposed in both the NEMA layout, and the neighbouring HBD proposal.

The NEMA application (24/01268/OUT) can be viewed on Cheltenham Borough Council's website

The decision deadline is October 30.