You need to get the place a CAA Aerodrome Licence (by no means easy)
This used to be an MOD base so should be a formality but CAA will want wads of dosh !
You need full aerodrome lighting for night ops.
Call a local electrician ? Ah yes CAA fee for OK
You need instrument approaches (precision like ILS, not GPS)
Why not lead the way and be the first precision GPS airfield ? (oh yes, I just remembered good old, pushing the envelope of technology not, CAA )
You need licenced ATC and enough controllers to staff the place. That will cause problems when the existing chaps are trying to get 40 winks !
You need to upgrade fire cover to a much higher level. There is a volunteer fire service ready and waiting with the best trucks I have seen at a local airfield, just not wanted by the local council
You will need far greater fuel storage facilities.
Oh and a decent VIP terminal. The 'Squadron' will not make the grade, or their dodgy lavatories. How about a marquee and some up-market portaloos ?
There are always obstacles and yes it will need investment but at the moment it is a terrible wasted opportunity, the main thing that is required is in place and that is a decent long runway.