Cheltenham Borough Council and Gloucester City Council have established a firm deadline of January 31 to finalize the sale of Gloucestershire Airport in Staverton to their preferred buyer, Horizon Aero Group. The councils, which jointly own the 375-acre site, are taking precautionary steps by preparing a contingency plan should the deal fail to complete on schedule.
The airport site, known for its two successful business parks and planning permission for an additional 30,000 square metres of business space, was announced for sale in July. The agreed sale price exceeds the original asking price of £25 million. However, the transaction has encountered delays, prompting speculation about its viability.
Council leaders remain “very confident” about the completion of the sale, maintaining regular communication with Horizon Aero Group throughout the festive period. At a recent overview and scrutiny committee meeting, council officials shared that progress has been positive, with open and transparent dialogue between the parties.
Andrew Hearne, the councils’ head of place, described a “very productive” meeting with the buyers and their agents on November 27, which helped clarify concerns and renewed assurances about the buyer’s funding sources. Although specific funding details remain confidential, the buyer is reportedly engaging multiple financiers to secure investment options, offering a solid contingency platform.
Since that meeting, Hearne has held further discussions with the buyers, emphasizing the need to maintain momentum and transparency. The agreed “backstop” date of January 31 marks the target completion deadline for both parties.
When asked about the councils’ response if the deadline is missed, Hearne explained that the authorities would not simply walk away. Instead, they would expect timely communication from the buyers regarding any risks to their funding, allowing the councils to make informed, prudent decisions. This approach ensures pressures remain appropriately placed to facilitate progress.
“We are prudently looking at alternative options not because we anticipate failure, but because it is sensible to do so,” Hearne said. “It would be irresponsible not to consider what a Plan B might look like.” Despite these precautions, Hearne remains optimistic about the viability of the deal and the transparency exhibited by the buyers.