By Carmelo Garcia – Local Democracy Reporter
There has been an “encouraging level of interest” in Gloucestershire Airport which council chiefs hope will finally be sold this time around.
The 375-acre site at Staverton is jointly owned by Cheltenham Borough Council and Gloucester City Council. But it has been costing taxpayers millions of pounds in recent years.
The two authorities decided to sell the site with an asking price of £25m in 2024. However, the first attempt fell through earlier this year, despite agreeing on a preferred bidder for the airport.
Council chiefs have since decided to put the site back on the market in June with international property advisor Savills appointed to lead a renewed sales process.
And this week city councillors will be asked to approve giving authority to council chiefs to complete the sale once a new preferred bidder is chosen.
Gloucester City Council says bids are currently being assessed and the level of interest has been “encouraging”.
“The process to sell Gloucestershire Airport is progressing well, with an encouraging level of interest being shown by a range of potential bidders,” a spokesperson said.
“Bids received are being assessed through an external structured process. The airport’s shareholders remain committed to selling the site as an operational airport and within an agreed timeframe.
“Alongside the sale process, work on the airport’s financial recovery plan is ongoing and the management team are continuing to work on initiatives to improve the position.
“We continue to monitor the impact of these measures as part of broader efforts to support the long-term sustainability of the business.
“To support this work, specialist aviation expertise has been engaged to provide independent advice on the recovery plan and to help assess alternative options should they be required.
“Our focus remains on securing the best possible outcome for the airport, its customers, tenants, employees and the wider local economy.”
Alternative options such as setting up a joint venture with a commercial investor or closing the airport and promoting the site for development are not being recommended.
The report which will be presented at the meeting on September 24 says a joint venture option would carry a “great deal of commercial risk for the council”.
This is because a commercial investor would only be prepared to invest if there were a substantial equity release provision or an income strip arrangement, the document suggests.
And the option of shutting down the site to redevelop the site has been discounted as it doesn’t align with the councils’ “long-standing political commitment to secure the long term future of the airport”.