Gloucestershire Airport, a pivotal aviation hub in the South West, is on the market for a complete sale, stirring interest among potential investors.
Jointly owned by Cheltenham Borough Council and Gloucester City Council, the airport has been a cornerstone of the region’s transport infrastructure since the 1930s.
Background of Gloucestershire Airport
Gloucestershire Airport, located strategically between Gloucester and Cheltenham, has been a vital transport hub since its establishment in the 1930s. Jointly owned by Cheltenham Borough Council and Gloucester City Council, it covers 350 acres and serves as a key site for general aviation in the South West.
The airport is recognised as the busiest ‘general aviation’ airport in the UK as of 2023, boasting 66,106 aircraft movements. Its significance is further augmented by its direct access to the M5 motorway, enhancing its appeal as a hub for business travel, flight training, and private aviation.
Sale Announcement and Market Interest
The pivotal announcement of the airport’s sale was made following an administrative change in Gloucester City Council. Councillor Jeremy Hilton supports the sale, emphasising the necessity for investment to maintain its status as a premier aviation site.
Savills, a leading property firm, has been appointed to market the airport. Gloucester City Council and Cheltenham Borough Council have put the entirety of their shares in Gloucestershire Airport Ltd, along with the freehold interest of the site, on the market. Potential buyers have shown significant interest, recognising the commercial potential of the expansive site.
The councils are seeking a buyer committed to enhancing the airport’s capabilities, particularly those with innovative growth plans that align with the airport’s existing infrastructure and strategic location.
Infrastructure and Development Potential
The airport’s infrastructure includes two primary tarmac runways and advanced navigation systems, offering robust capabilities for various aviation activities. This solid foundation has attracted considerable interest from investors.
There are existing business parks at the site, totalling approximately 700,000 sq ft, with planning approval for an additional 320,000 sq ft. This presents substantial opportunities for further development, making it an attractive proposition for businesses seeking expansion.
The councils have previously invested nearly £10m for infrastructure improvements between 2021 and 2022, enhancing the airport’s facilities and competitiveness. This investment signifies a forward-thinking approach, aimed at securing the airport’s future as a thriving aviation centre.
Testimonials from Key Stakeholders
Key stakeholders have expressed optimism about the sale. Ian Simpson from Savills notes the rarity of such a prime location being available, highlighting the strong air traffic levels as evidence of the potential for further growth.
Cheltenham Borough Council leader Rowena Hay has remarked on the efforts to enhance the airport, underscoring the confidence in finding a buyer who can capitalise on the site’s commercial opportunities.
Jason Ivey, managing director at Gloucestershire Airport, shared his enthusiasm for the new chapter and the potential to fully realise the airport’s capabilities with an appropriate investor. These endorsements illustrate a collective ambition to elevate the airport’s standing and secure its long-term success.
Economic and Strategic Importance
Gloucestershire Airport’s location is strategically important, acting as a gateway for business and commerce in the region. Its proximity to major road networks enhances its role as a logistical hub, boosting the regional economy.
The airport supports numerous aviation-related enterprises, contributing significantly to local employment and economic activity. The sale is viewed as an opportunity to unlock further commercial potential, ensuring sustainable growth.
The councils are committed to ensuring that the sale leads to a prosperous future for the airport, encouraging investment that aligns with the region’s economic objectives and the airport’s pivotal role in the local infrastructure.
Councils’ Vision for the Future
The councils involved are keenly focused on ensuring that the airport’s sale aligns with long-term strategic goals. They are seeking investors who can deliver both aviation growth and commercial development.
Councillor Hilton has emphasised the importance of securing a robust plan that ensures the airport’s future viability and enhances its contributions to the region. This vision centres around sustainability and growth, anchoring the airport as a cornerstone of local transport infrastructure.
Summary of Sale Process
In summary, the sale of Gloucestershire Airport represents a significant opportunity for investment and development. The site, with its advanced infrastructure and strategic location, is poised for further growth and success.
The sale of Gloucestershire Airport opens the door to new opportunities and growth. With strategic investment, the airport can continue to thrive as a significant aviation centre.
Confident in their vision, the councils anticipate a buyer who will uphold the airport’s legacy while propelling it into a prosperous future.
