Purpose

To progress the disposal of the Council’s freehold interest in the Gloucestershire Airport in conjunction with the sale of the entire share capital of Gloucestershire Airport Limited (GAL).

Decision

RECOMMENDED to Council that:

(1)              delegated Authority is given to the Leader of the Council, in consultation with the Managing Director, Head of Finance and the Director for Place, Assets and Regeneration, to complete the sale to the preferred bidder having regard to the level of consideration, deliverability, financial standing and completion of satisfactory due diligence;

(2)              officers work with Cheltenham Borough Council to take the disposal through to solicitors and complete the sale.