Councils to try selling loss-making Gloucestershire Airport again

Council chiefs are going to try again to sell Gloucestershire Airport.

The 375-acre site at Staverton is jointly owned by Cheltenham Borough Council and Gloucester City Council.

However, the airport has been costing taxpayers millions of pounds in recent years.

The two councils decided to sell the site with an asking price of £25m last year to secure its future, as it needs a large investment to be able to continue to operate and to drive its expansion.

However, despite agreeing on a preferred bidder for the site, the deal fell through earlier this year.

Now council chiefs have decided to put the site back on the market with international property advisor Savills appointed to lead a renewed sales process.

They said this decision comes after a review and due to a number of approaches from interested parties.

The councils agree that the long-term interests of the airport are best served by securing a new owner, who can deliver long-term investment and sustainable growth for the site.

Cheltenham Borough Council leader Rowena Hay (LD, Oakley) said: ‘’We are hopeful this renewed sale process will attract the right partner for the airport’s future, which remains our key priority. We will work with partners and stakeholders to update as the new sale process proceeds.’’

And City Council leader Jeremy Hilton (LD, Kingsholm and Wotton) said: “Gloucestershire Airport is a vital economic and aviation asset for our county and region and we must do our best for it.

“In recent weeks there has been considerable interest from potential investors in the airport and now is the right time to put the airport back on the market.

“This next phase gives us the opportunity to build on what we have learned and engage with investors who share our vision for growth and continued aviation at Staverton.”

The councils say the decision follows a comprehensive initial process which concluded earlier this year, when the councils were unable to reach agreement with their preferred bidder, after terms moved significantly away from the original proposal.

Gloucestershire Airport remains fully operational, continuing to support businesses, employment and connectivity across the region, they added.

Hear all the latest news from across the UK on the hour, every hour, on Greatest Hits Radio on DAB, smartspeaker, at greatesthitsradio.co.uk, and on the Rayo app.