Some of the above is correct. Here are the facts (and one small rumour).
The Maritime and Coastguard Agency (MCA) have purchased the airfield - essentially the north-eastern part of the field that most of us would recognise as suitable for flying from. If you go to the site, there is a big fence which delineates the extent of their purchase. It includes most of the small hangars, the 05-23 runway, the taxiways and control tower. You can read the official release here:
http://www.gnn.gov.uk/content/detail...romSearch=True
The MCA recently announced their intention to replace the aircraft at Lee on Solent with two AB139s. See
http://www.gnn.gov.uk/content/detail...leaseID=181587 for the news release. There are also rumors of fixed wing MCA operations from Lee on Solent. Police operations are to continue, though they are no longer 'in charge' of the airfield.
The fate of the buildings, slipway and the other dross to the south-east of the fence is currently undecided. This area has been put into the hands of SEEDA (
http://www.seeda.co.uk/) who have had preliminary discussions with the planners about a 'mixed development'. I must emphasise this is a rumour and in no way confirmed.
The really interesting thing for the aviation community will be how the airfield (and especially operations) are managed. My source suggests that the MCA's ideal objective would be for them and the Police to have virtually sole use of the field. They will try to argue that this is necessary for their operational effectiveness. The local councils (and Hampshire County Council) are a bit more enlightened and are trying to get more open use.