Cheltenham Borough Council and Gloucester City Council have picked Savills to sell their entire freehold interest in Gloucestershire Airport operator.
Offers over £25m are sought for the aviation hub, which sits on a 350-acre site adjacent to the M5 motorway. It has two primary tarmac runways alongside two business parks spanning 700,000 sq ft, plus planning consent for an additional 320,000 sq ft of business space on development land.
The Gloucestershire Local Enterprise Partnership, Gloucester City and Cheltenham Borough Councils have poured more than £10m of investment in the runways and associated infrastructure at the site between 2021 and 2022. These upgrades have helped to position the airport’s future as a business and aviation hub.
Jason Ivey, managing director at Gloucestershire Airport, said: “Although both Cheltenham Borough Council and Gloucester City Council have been 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.”
Ian Simpson, head of leisure and trading at Savills, said: “There is 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.”
Image © Savills
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