Airport Sale Relaunched
Gloucestershire Airport Relaunches Sale After Previous Deal Collapsed, Seeking Sustainable Growth
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Key Points
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Horizon Aero Group was the preferred bidder for Gloucestershire Airport before the sale collapsed earlier this year; the renewed sale is being positioned to attract new investors.
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The airport is being relaunched on the market four months after the previous sale collapsed.
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Staverton's site size is inconsistently reported across outlets, with some sources listing about 350 acres and others 375 acres.
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The previous deal collapsed after terms moved significantly away from the original proposal, prompting a restart of the sale.
Gloucestershire Airport is back on the market — again. The loss-making airfield returned to sale four months after a deal with preferred bidder Horizon Aero Group collapsed, with real estate firm Savills now relaunching the 350- to 375-acre Staverton site at an asking price of around £25 million, according to Estates Gazette.
The airport, jointly owned by Cheltenham Borough Council and Gloucester City Council, handles about 66,000 aircraft movements a year. But it has cost taxpayers millions in recent years, with unaudited losses exceeding £1.2 million in 2022/23 alone, Yahoo News reported.
Previous Deal Collapsed Over Shifting Terms
The airport was pulled from the market in March after talks with Horizon Aero Group broke down. The councils said the final terms "moved significantly away from the original proposal," according to SoGlos. No further explanation was given publicly, leaving local residents and opposition politicians in the dark about what went wrong.
The Conservative opposition in Gloucester blamed the Liberal Democrat and Labour leadership for "failing to close the deal." Industry analysts suggest Horizon may have pushed to convert more of the airfield into commercial real estate than the councils were willing to accept politically. Either way, the failure forced a full restart of the sale process.
Councils Say New Sale Process Is Already Drawing Interest
After a rapid review, the two councils re-appointed Savills to run a fresh sale. Cheltenham Borough Council leader Cllr Rowena Hay said the airport needs private capital the councils simply cannot provide. "We are looking for a partner who shares that vision and has the capital to invest in the next generation of aviation technology," she said.
Gloucester City Council leader Cllr Jeremy Hilton, who inherited the collapsed deal after taking office in May 2024, said the renewed process would prioritize taxpayer value. "By returning to the market, we are ensuring we get a partner who is committed to the site's aviation heritage," he said, according to AOL News.
Airport Needs Up to £20 Million in Further Investment
The Staverton site is far from a plug-and-play purchase. Despite a £3.5 million runway upgrade in 2021, the airport still needs an estimated £10 million to £20 million more for hangar modernization and environmental compliance. The site supports around 500 direct and indirect jobs and hosts critical services including the Midlands Air Ambulance and police helicopters.
Tenants — including flight schools and charter firms — have raised concerns that a new owner might hike landing fees to push out aviation operators and clear the way for industrial development. The site's CGX Connect business park already shows the land has strong commercial value beyond aviation, a tension that shadowed the failed Horizon deal and will likely define the next one too.
A Second Failed Sale Would Trigger Political Fallout
The stakes for both councils are high. A successful sale would shed significant financial liabilities and deliver a capital windfall. But a second collapse would likely trigger calls for an independent audit of airport management, according to Estates Gazette. The airport has already been described by local columnists as a "white elephant" draining public money.
Aviation advocates argue the opposite — that Staverton is a strategic regional asset worth protecting. The site was established in 1936 and trained pilots during WWII. Any new owner is also expected to commit to "green aviation" initiatives, including electric aircraft charging, as part of the councils' net-zero climate goals, SoGlos reported.
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