Originally Posted by
rodan
It’s not the value of an airport that has to be considered, it’s the value of the site if it wasn’t an airport any longer.
If the airport has lost £10m/year since opening you can’t ‘expect that back’ just because you’ve not run an airport very well. Poorly run businesses are valued less, though it’d be an interesting pitch to include ‘PPP recovery’ instead of ‘goodwill’ in a business valuation.
You're right re the value of the site, but as the development potential is tied to the ‘having an airport’ condition, there’s a problem.
Without an airport the development potential is compromised, and with an airport any development is restricted in part due to the airfield safeguarding requirements done hand in hand with the LPA. So the LPA does have an influence whichever way the wind blows tomorrow.