The future of Gloucestershire Airport has taken a decisive step as Gloucester City Council approved the sale of Staverton Airport during a meeting on Thursday, June 26. The 350-acre Staverton site, jointly owned by Cheltenham Borough and Gloucester City Councils, has struggled financially in recent years, prompting the decision to sell.
Gloucestershire Airport Limited, established in 1993, operates the site with equal ownership between the two councils. Both authorities announced in November 2023 their intention to sell the airport, which was subsequently put on the market in October 2023 with a guide price of £25 million, managed by Savills. The sale is being conducted as a going concern, emphasizing the continuation of the airport’s operations.
At a special meeting held at North Warehouse, Gloucester City Councillors authorized council leaders to finalize the sale with the recommended highest bidder, though the identity of the preferred buyer has not been disclosed publicly. Concerns raised by public transport campaigner David Redgewell about protecting the airport’s operational status were addressed, with council leader Jeremy Hilton ensuring a robust covenant would be negotiated to preserve aviation activities.
Hilton explained that while the maximum duration of the covenant would likely be 50 years and legally bind successor local authorities, no arrangement can guarantee absolute permanence. Nevertheless, he expressed confidence that the new owners are committed to running a successful general aviation airport. He stressed that the sale provides the best chance for the airport’s survival compared to continued council ownership, which has seen ongoing losses.
Hilton recounted his initial reluctance as a reluctant seller who paused the sale after election, giving the council time to explore options. However, the council lacks the capital to buy out Cheltenham’s stake or invest sufficiently in the airport to reverse its financial decline. Loans remain unpaid, and rent obligations have been unmet, creating significant financial strain.
Importantly, the councils will retain interests protecting the airport land. Any future sale of the property for non-aviation use would result in a payout to the councils, ensuring ongoing financial safeguards. The winning bid exceeded the £25 million guide price, and although amounts remain confidential, both final bidders had credible backgrounds in airport management and investment plans.
Councillor Declan Wilson expressed regret about the sale but acknowledged the councils’ limited resources to improve profitability or secure aviation’s future at Staverton. Other council members emphasized the airport’s importance while voicing concerns about transparency, the strength of protective covenants, and the risk of future redevelopment into housing.
Opposition voices called for greater clarity on the sale price and covenants, with some advocating instead for converting the land for housing developments given the region’s needs. Despite these concerns, the council voted overwhelmingly in favor of proceeding with the sale, with only two dissenting votes from the Community Independents group. Cheltenham Borough Council is expected to confirm its decision soon.
The preferred bidder will now begin due diligence before taking ownership of the airport, anticipated by autumn. The council’s decision marks a pivotal moment aimed at safeguarding Gloucestershire Airport’s operational future while alleviating financial burdens from local taxpayers.