Buyer is found for airport owned by councils

A preferred bidder has been found to buy an airport and attract new investment.

Gloucester City and Cheltenham Borough councils jointly own Gloucestershire Airport, which was put up for sale in October last year.

The identity of the bidder, who is set to take over the 350-acre site at Staverton, is yet to be revealed. The bid is above the £25m guide price.

Gloucester City Council leader Jeremy Hilton said the bidder "shares our vision of modernising the airport and bringing real benefits to the area and to local people".

The airport is mainly used for private and commercial flights, training and clubs - and brings in more than £50m each year to the local economy.

Both the councils will vote separately on 26 June on whether to approve the preferred bidder and move the proposal forward. Cheltenham Borough Council's cabinet has already accepted the sale so their vote will be to ratify the move.

Gloucester City Council said part of the plans include expanding the site's business parks.

Cheltenham Borough Council leader Rowena Hay said: "We recognise the significant contribution that the airport makes to the regional economy and now is the right time for a new owner to drive this forward.''

Jason Ivey, managing director at Gloucestershire Airport, said: "This not only secures current jobs, but also lays the foundations for new jobs creation and infrastructure development."

Part of the sale of the airport, which was built in the 1930s, will be used to pay off any outstanding debts to the two councils from a recent refurbishment of the site.

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