Gloucestershire Airport sale won't go ahead after shareholders fail to agree terms

Two councils in Gloucestershire have confirmed they have not been able to reach an agreement on the long-awaited sale of Gloucestershire Airport.

Cheltenham Borough Council and Gloucester City Council, as joint shareholders, had been working with Horizon Aero Group - but talks have fallen through.

The councils say they are disappointed, after Horizon Aero Group's plans appeared no longer to match those outlined in the original bid.

Both authorities intend to keep in close contact with operators and tenants, to provide reassurance and keep them updated as work continues to find alternative options.

The 375-acre site includes two thriving business parks and planning consent for an additional 30,000 square metres of business space.

Completion of a sale, which had been agreed to be for more than the £25m asking price, has faced delays and missed deadlines for the last eight months.

Councillor Rowena Hay, leader at Cheltenham Borough Council, said: ‘’It is our duty to deliver best value on the sale of the airport.

‘’We fully appreciate the concern this will cause, particularly for those employed at the airport who will have worked hard to support the sale process."

The leader of Gloucester City Council, Councillor Jeremy Hilton, said: “This news is clearly disappointing as the combination of a clear commitment to flying by Horizon, and the continued operation of aviation based businesses, would have provided a strong future for the site.

"I fully recognise that people hold different views about the potential uses of the site, but our responsibility is to take a measured, evidence‑based approach that leads to the right outcome for the long term."