Gloucestershire Airport in Staverton is once again on the market following renewed interest from potential buyers, offering hope that the airport will finally be sold after a previous sale attempt collapsed earlier this year.
Spanning 375 acres, the airport is jointly owned by Cheltenham Borough Council and Gloucester City Council. Despite its value, the site has incurred significant costs to taxpayers in recent years, prompting the councils to seek its sale with an asking price of £25 million during 2024.
Although a preferred bidder had been agreed upon in the initial sale process, the deal ultimately fell through. In response, the councils appointed international property advisor Savills to lead a fresh sales effort beginning this June.
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Ahead of a council meeting scheduled for 24 September, Gloucester City councillors will be asked to approve granting their leadership authority to complete the sale once a new preferred bidder emerges. Bids are currently under assessment, and officials describe the level of interest from potential buyers as “encouraging.”
A spokesperson for Gloucester City Council stated: “The process to sell Gloucestershire Airport is progressing well, with an encouraging level of interest being shown by a range of potential bidders.”
They added that bids are undergoing a structured external evaluation, emphasising that the airport’s shareholders remain committed to selling the site as an operational airport within an agreed timeframe. Concurrently, efforts continue on a comprehensive financial recovery plan, with the airport’s management team actively pursuing initiatives to improve its economic health.
To support these efforts, the councils have engaged specialist aviation consultants to provide independent advice on the recovery plan and to consider any alternative options if necessary. The focus remains firmly on achieving the best possible outcome for the airport, its customers, tenants, employees, and the local economy.
Among alternative strategies considered but not recommended are forming a joint venture with a commercial investor or closing the airport to redevelop the site. A report to be presented at the upcoming meeting highlights that a joint venture carries substantial commercial risks, as investors would require significant equity release or income arrangements.
Likewise, closing the airport conflicts with the councils’ longstanding political commitment to securing its long-term future as an operational facility. As such, the renewed sale process reflects a continued dedication to preserving Gloucestershire Airport’s role in the region.