Decision details

To formalise the appointment of Savills through the Crown Commercial Services Framework ("CCS Framework") to package and market Gloucestershire Airport and provide ongoing consultancy advice in respect of the transfer of the business.

Gloucestershire Airport is jointly owned by Cheltenham Borough Council and Gloucester City Council and comprises both land and property interests and a trading company (Gloucestershire Airport Limited).

Following investment by the councils into delivering a new runway, opening up surplus land for employment use, the councils have determined to dispose of their interests (property and shares in GAL) and seek a new investor to develop the future of the airport and its associated assets.

In order to maximise market exposure to secure the best price from an appropriate investor, the councils wish to appoint a high-profile firm with an international presence and the appropriate experience and expertise. The cost will be borne between both councils in equal shares and, ultimately, funded through the end capital receipt.

An appointment through the CCS Framework allows both councils to make an expedient, safe and transparent appointment that accords with their respective Constitutions.

Full and open tender: With news of the councils' intentions having been informally released to the press, considerable interest has been expressed by a number of parties. In order to capitalise on this interest and gain momentum, the delays that a full and open tender would incur could well provide detrimental to the financial and reputation interests of both councils.

N/A