In about 1996 I heard from an ex IAL controller that SERCo were trying to get their hands on the IAL Pension Scheme funds; he was a trustee and had been sent on 'gardening leave' because he and the other trustees were refusing to release the funds.
I also heard that SERCo had planned to open a new college at Tewkesbury to replace Bailbrook and Hurn; maybe that was the 'cheaper location'?.