General aviation is not a low cost operation and Woodford, if the runway, nav aids and ATC were to be maintained to a high standard, would be no exception. Any operator would doubtless aim for a range of traffic and by offering a slightly discounted fees level to Manchester's, the operators would doubtless go for bizjet traffic unless prevented by planning consents. It would not have the wider income offset available to EGCC. All that apart, Woodford is isolated in comparison to EGCC and even the light twin fraternity want good surface links.
The most sensible option would now be to use the spare runway capacity on 23 left, build a non jet executive centre and add to Manchester's income through sensible, competitive pricing. With thought and planning, light aircraft should be able to generally avoid Nimbyland on departure.