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Speculation grows over sale of Gatwick Airport

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The start of 2018 has already brought speculation that there may be an imminent sale of Gatwick Airport.

With a national newspaper reporting the speculation it has done nothing but stir up the interests from local businesses and leaders of how this would affect the local economy and infrastructure.

Suggested reports of huge increases in dividend payments due to the large swell in passenger numbers over the past year do indicate a rapid growth for the countries second busiest airport but also add fuel to the logic of a sale.

Currently owned between a plethora of investors and GIP, Global Infrastructure Partners, Gatwick has seen numerous improvements and advances since it was bought from BAA back in 2009.

Recently more exciting news came when Crawley Council approved the building of a new multi-million pound maintenance hub for Boeing at Gatwick, bringing even more jobs to the area.

What is uncertain though, is if a sale was to go ahead, whether it would occur before or after a decision on the second runway, as this would have huge implications on the airports value.

Local leaders have already commented on the speculation;

Crawley MP Henry Smith said:

“Ever since BAA sold Gatwick to GIP almost a decade ago the airport has been seen as an investment asset and if transferred again now it’s no great surprise. The positive of Gatwick’s private ownership is the over £1 billion which its owners have put in.

Crawley people should be cautious though that any further airport sale isn’t just about getting an extra runway, taking the profit and leaving local people with the cost of providing the rail, road and housing infrastructure that would be needed with such expansion.”
Jeremy Taylor, Chief Executive of Gatwick Diamond Business, commented:

“it’s not a surprise to see this speculation on the possible sale of Gatwick Airport.  When GIP bought the airport in 2009 the financial method they used had a 10-12 year life and we’ve seen 58% already sold to Institutional Investors.”

“The bigger question is around the next runway as that decision will have a big impact on the value of Gatwick and, of course on the likely owners. 

To my mind, it makes sense for GIP to hold onto their investment and to be the people behind the development of Gatwick’s second runway; something we continue to lobby for.”

Steve Sawyer, Executive Director of Manor Royal Business District Ltd said:

“The important thing for us is that, if Gatwick is sold, we maintain good relations with the owners and they understand the various relationships between the airport and surrounding area, including Manor Royal. 

Since GIP has taken over Gatwick has flourished. I’m sure it’s even more attractive to a prospective buyer than it was and would be more so with permission to expand.
Some have speculated that GIP would sell at some point, so perhaps no major surprise but we will have to see.
It’s not a particular concern provided we can maintain positive relations to ensure the airport can succeed alongside and as part of the success of the area as a whole and not to its detriment. “
A spokesperson for Gatwick said they do not comment on speculation.

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1 Comment

1 Comment

  1. Jeremy Taylor

    2nd January 2018 at 2:08 pm

    But Henry supports a third Runway at Heathrow which will incur at least £8bn of public expenditure on road & rail infrastructure & housing … paid for by local people.

    Come on Henry, get behind Gatwick & the infrastructure that could benefit your constituents!

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Business

Furniture Village opens its doors in Crawley’s County Oak Retail Park

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Crawley welcomes Furniture Village who will open a brand-new store in County Oak retail park this Boxing Day.

The new location offers a Carpetright concession, providing a one-stop-shop for customers looking to update their homes.

Visitors to the new Furniture Village store will be invited to create their ‘home in one’, by exploring collections for every room of the house, from sofas to beds to dining.

Charlie Harrison, Commercial Director at Furniture Village, comments:

“With much of the UK under lockdown, I’m delighted we’ve been able to open our new store in Crawley. County Oak is a fantastic shopping destination and the ideal choice for Furniture Village.

“It’s been a challenging year for everyone, but I am incredibly proud of the Furniture Village team which continues to offer industry-leading quality, choice and service. As well as Family Retailer of the Year, we’ve also been awarded National Bed Retailer of the Year so I’m particularly looking forward to welcoming customers to our new bed department.”

The store will see a team of 11 expert sales consultants offering valuable insights and advice to customers, all made possible thanks to enhanced Covid-19 safety measures.

These include temperature checks, PPE for all staff and hand sanitisation stations, along with an appointment booking system which can be accessed via the website.

Charlie Harrison, Commercial Director at Furniture Village, adds:

“Customer safety is still, and will continue to be, a priority for us. The feedback from all of our existing stores continues to be overwhelmingly positive, with the appointment booking system providing reassurance and exceptional service for customers.”

The store will open at 9am on Saturday 26th December 2020. Opening offers include Sale discounts of up to 50% plus an additional £50 off every £500 spent.

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