Originally Posted by
jmdavies86
Do they actually own the land outright, or are they merely a leaseholder...?
If the latter, it will very much depend on what is detailed in the lease agreement between the actual land owner & Peel Group. If it states that they have to operate it as an airport, then they can't/won't simply be able to redevelop the land into another distribution centre without agreeing a change to the terms of the lease.
Looking at the lease documents to see permitted use is the kind of thing that even the most junior of solicitors would look at. (Mrs Johnson is a property lawyer)
Yes, it is a consideration, but it would be extraordinarily incompetent for Peel not to have extensive advice on what they can and can't do with the land if the airport is closed, and what changes can be made to a lease