Gloucestershire Airport has been put up for sale by it’s local government owners. The sale is in order that a private buyer will raise the capital needed for renovations
Cheltenham Borough Council and Gloucester City Council have appointed estate agent Savills to market the freehold interest in Gloucestershire Airport, which includes 100% of the shares in the operating company, Gloucestershire Airport Limited. Offers are invited for the aviation hub, which sits on a 350 acre site with planning consent for an additional 320,000 square feet of business space.
READ: Cabin Crew: training for a new world
The site already has two thriving business parks spanning around 700,000 square feet, plus planning consent for an additional 320,000 square feet of business space on development land. Gloucestershire Airport Limited holds the long leasehold interest in the majority of the site under seven leasehold titles and owns the freehold interest in the land where the main airport access road is situated.
Ian Simpson, Head of Leisure and Trading at Savills, comments: “It’s extremely rare for an airport to come to the market, especially in such a prime location such as Gloucestershire Airport. The Councils have done an excellent job over the last few years, as proven by the substantial level of air traffic last year, but now it is time for a new owner to seize this business opportunity and build on its historic success. There is huge potential for further airport related and ancillary development, with the aim of this process being to find a buyer who will continue aviation operations, as well as deliver further growth in airport related commercial development. We are confident that the new owner will aim high and take the business to the next level.”
Cllr Rowena Hay, leader at Cheltenham Borough Council, said: “The airport’s significant contribution to the regional economy is well recognised, offering a great opportunity for its new owner to build on its success. Along with Gloucester City Council, we’ve worked hard to enhance the airport, making it the UK’s busiest ‘General Aviation’ airport in 2023. Now, it’s time for a new owner to drive the airport forward, ensuring growth for the business and the wider economy. We’re confident we’ll find a buyer who recognises the site’s commercial potential and can further its success.”
Jason Ivey, Managing Director at Gloucestershire Airport, adds: “Although both Cheltenham Borough Council and Gloucester City Council have been incredibly supportive of the airport over the years, we now enter the next chapter of Gloucestershire Airports story and I can’t wait for the business to fully realise its true potential with the right investor.”
The post Gloucestershire Airport put up for sale appeared first on Aviation Business News.
