'Vital' airport being sold to help site grow

Gloucestershire Airport's sale would include 100% of the shares in its operating company

A "vital" council-owned airport is being sold to help the site continue to grow.

Plans to sell Gloucestershire Airport, which is jointly owned by Cheltenham Borough Council and Gloucester City Council, were announced at the end of 2023.

The authorities have now confirmed that real estate advisor Savills has been appointed to market the 350 acre site in Staverton.

Rowena Hay, leader of Cheltenham Borough Council, said they are selling the airport as they do not have the "commercial investments" it needs.

Ms Hay said the site could potentially sell for about £25m.

"There will be provisions and restrictions against development that could be detrimental to the running of the airport itself," Ms Hay added.

"That includes restricted covenants against building houses but also, most of the airport site sits within the greenbelt and there are strict planning policies regarding that, some of which are specific to protecting the airport."

The site has been run by Gloucestershire Airport Ltd since 1993, and both councils have a 50% shareholding.

Established in the 1930s, the airport has two primary tarmac runways and advanced navigation systems.

It has two business parks spanning approximately 65,032 sq m (700,000 sq ft), in addition to 29,729 sq m (320,000 sq ft) of business space on development land.

Almost £10m was invested into the airport's runways and associated infrastructure by the Gloucestershire Local Enterprise Partnership, Gloucester City and Cheltenham Borough Councils.

Jeremy Hilton, leader of Gloucester City Council, said the council is "fully committed" to the airport's future success.

"The council is looking for a buyer with an exciting and robust plan to deliver aviation-based growth at Staverton," he said.

"The airport needs a capital injection to deliver on its strategy and business plan.

"We need a buyer who shares our confidence in the potential of the business to grow and grow to remain the premier general aviation airport in the south west.”

He previously described the airport as being "vital for the economy of the county".