Concerns are mounting over the potential collapse of the Gloucestershire Airport sale amid ongoing questions about the status of the deal.
Gloucester City Council and Cheltenham Borough Council are currently working to sell their jointly owned Staverton Airport to Horizon Aero Group, the preferred bidder. In July, council leaders announced plans to sell the 375-acre site, which includes two successful business parks and has planning approval for an additional 30,000 square metres of commercial space.
By September, City Council leader Jeremy Hilton (LD, Kingsholm and Wotton) expressed optimism that the sale would be completed by Christmas. However, recent speculation suggests that the transaction may be jeopardized.
At a cabinet meeting on December 10 at North Warehouse, Labour group leader Terry Pullen (Moreland) voiced skepticism about Horizon Aero Group’s ability to proceed. “To be frank, it doesn’t look convincing that Horizon Aero Group would be able to proceed,” he said. Pullen pressed for clarity on whether the council leader still had confidence in the sale and asked about contingency plans should the deal fall through.
In response, Councillor Hilton acknowledged that due diligence is still ongoing for both the bidders and the councils. “It will be complete when it is complete,” he stated. “Sometimes these things take longer than you would expect. But it is a very detailed sale. There is a lot of property and assets there for the bidders to be reassured they are getting the right value for it.”
Hilton affirmed his belief that the sale will go ahead but emphasized that no guarantees can be made until contracts are signed and payments received. “Just the same if you’re buying a house,” he explained, “It’s not sold until it is sold, until everybody has signed the deal and paid the money.”
He dismissed recent rumors circulating in the media as “uncorroborated stuff spouted out by individuals that hasn’t got any basis in fact,” urging patience while the process continues.