Gloucestershire Airport is set to be sold in its entirety after local councils agreed to list the 350-acre Staverton site with property firm Savills. The airport, established in the 1930s, is jointly owned by Cheltenham Borough Council and Gloucester City Council.
The transport hub is run by Gloucestershire Airport Limited, with each local authority holding a 50% stake.
Last year, it was revealed the councils were considering selling the site, attracting interest from potential buyers, but civic chiefs said no decision would be made until after the elections.
Following a change in administration, Gloucester City Council leader Jeremy Hilton – a Lib Dem MP for Kingsholm and Wotton – said he supported the sale. He has said the airport needs investment and a buyer committed to maintaining its status as the premier general aviation airport in the South West.
Savills has been appointed by both councils to market the freehold interest in Gloucestershire Airport, which includes 100% of the shares in Gloucestershire Airport Ltd. They are inviting offers for the aviation hub, which sits on a 350-acre site with planning consent for an additional 30,000 square metres of business space.
Cheltenham Borough Council leader Rowena Hay said: “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.”
Gloucestershire Airport holds a strategic position between Gloucester and Cheltenham, directly next to the M5 motorway. This location positions it as a key hub for business travel, flight training, and private aviation.
The airport has two primary tarmac runways and state-of-the-art navigation systems which contributed to its record 66,106 aircraft movements, per CAA statistics, making it the biggest ‘general aviation’ airport in the UK for the year 2023.
The site includes two business parks that currently cover approximately 700,000 sq ft, with planning permission already granted for another 320,000 sq ft of potential business development land.
The company holds the long-term lease for most of the site, spread across seven leasehold titles, and owns the land where the main airport access road is located. Between 2021 and 2022, the airport received nearly £10m in investment from the Gloucestershire Local Enterprise Partnership and local councils to upgrade its runways and infrastructure.
These improvements, combined with surplus land and opportunities for redevelopment, have set the airport up for future success as a thriving business and aviation hub.
Ian Simpson, head of leisure and trading at Savills, said: “It’s extremely rare for an airport to come to the market, especially in such a prime location such as benefits 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.”
Jason Ivey, managing director at Gloucestershire Airport, added: “To lead such a diverse and vibrant business such as Gloucestershire Airport is an absolute privilege. Since taking over as the accountable manager in July 2023, I have been amazed at the positive team spirit and local support from our based operators and customers. 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 Airport’s story and I can’t wait for the business to fully realise its true potential with the right investor.”
Councillor Hilton said: “We are fully committed to the future success of Gloucestershire Airport. With the right investor, opportunities to grow the airport business should take off. The council is looking for a buyer with an exciting and robust plan to deliver aviation-based growth at Staverton. Our aim is to secure the long-term future of Gloucestershire Airport.”