It has been owned by potential developers for a long time, a consortium looking to make an investment. I can't see it being resurrected as it would not be possible to be viable as an airfield compared to the cost of land for housing... now where have we heard that line before?
My understanding is that the owners applied to develop it and were advised that they can't because it's an in-use airfield, so they simply and abruptly closed the runway. The runway area was also leased so a lack of use wasn't really an issue, as long as the rent was paid.
It is now gone forever.