Rare Opportunity to Acquire Gloucestershire Airport
23 October 2024
International real estate advisor, Savills, has been jointly appointed by Cheltenham Borough Council and Gloucester City Council 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 30,000 square meters of business space.
Established in the 1930s, Gloucestershire Airport is strategically located between Gloucester and Cheltenham, adjacent to the M5 motorway. This prime position makes it a busy gateway for business travel, flight training and private aviation. The airport has two primary tarmac runways and advanced navigation systems, which have enabled it to accommodate 66,106 aircraft movements, according to CAA statistics, ranking it the UK’s busiest ‘General Aviation’ airport in 2023.
The Gloucestershire Airport 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. The company 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.
Between 2021 and 2022 the airport received almost £10 million of capital investment funded by the Gloucestershire Local Enterprise Partnership, Gloucester City and Cheltenham Borough Councils, in the runways and associated infrastructure. These upgrades, as well as surplus land and a range of potential redevelopment and other commercial opportunities, has positioned the airport well for future success as a vibrant business and aviation hub.
Ian Simpson, head of leisure and trading at Savills, commented: “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.”
Councillor 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, 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 Jeremy Hilton, leader at Gloucester City Council, 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.
“The airport already benefits the local economy with many businesses operating out of Staverton, with a substantial number of them being directly related to aviation. The airport needs a capital injection to deliver on its strategy and business plan. We need a buyer who shares our confidence in the potential of the business to grow and grow to remain the premier general aviation airport in the Southwest.”
For further information, please contact:
Andrew Phillips, Savills Tel: +441179102354
Jonathan Lambert, Savills Tel: +441179100362
Ian Simpson, Savills Tel: 02074098060
Phoebe Bohana, Savills press office Tel: 07972000091
For Cheltenham Borough Council’s press office:
Contact communications, telephone 01242 264231, email communications@cheltenham.gov.uk.
For Gloucestershire City Council’s press office:
Faye Adams: Faye.Adams@gloucestershire.gov.uk
