Cheltenham Borough Council and Gloucester City Council have set a firm deadline of January 31 to finalize the sale of Gloucestershire Airport, located in Staverton, to their preferred purchaser, Horizon Aero Group. The councils, who jointly own the 375-acre site, are proceeding cautiously by also preparing a contingency plan in case the deal does not conclude as expected.
The airport site includes two thriving business parks and planning permission for an additional 30,000 square metres of business space. Although the agreed sale price exceeds the initial £25 million asking price, completion has experienced delays, sparking speculation about potential challenges to the transaction.
Council leaders remain “very confident” that the sale will proceed and have maintained steady communication with Horizon Aero Group throughout the holiday season. At a recent overview and scrutiny committee meeting, council officials detailed their ongoing collaboration with the buyer to meet the agreed backstop completion date of January 31.
READ MORE: Police Officer Seriously Injured in Single-Car Crash in Cheltenham
READ MORE: Driving Instructor Reveals Crucial Following Distance to Keep in Icy Conditions
Andrew Hearne, the council’s head of place, described a productive two-hour meeting on November 27 with the buyer and their agents, emphasizing the openness and transparency that reassured him about the process. He noted that concerns raised in the media were quickly addressed by the buyers.
Hearne confirmed that while specific funding sources remain confidential, the buyer is engaging multiple funders to ensure investment contingencies are in place. This diversified approach provides a strong financial foundation from which the buyer intends to choose the best funding option.
Since November, Hearne has held three meetings with Horizon Aero Group to monitor progress and has encouraged continued dialogue over the festive period. The buyer also communicated their confidence through a detailed email outlining the current status of investment negotiations.
Council chairman Andrew Gravells inquired about potential obstacles causing delays, to which Hearne reassured that the councils are actively pushing for timely progress. Should any risks affecting funding emerge, the buyers are expected to report them immediately rather than waiting until the deadline.
While the councils do not anticipate the sale falling through, they are prudently exploring alternative strategies to ensure readiness for any outcome. Hearne stressed the importance of maintaining momentum and transparency to achieve the planned completion.
Both Cheltenham Borough Council and Gloucester City Council remain optimistic but committed to a proactive approach should a “plan B” become necessary.