London City Airport has been put up for sale, with owner Global Infrastructure Partners said to want to cash in on the current air travel boom.
The Financial Times has suggested the airport could fetch as much as £2billion, with many foreign investors keen to buy into London’s Docklands.
Passenger numbers have doubled to more than 4million a year since 2005, and it is unlikely there will be any shortage of investors, particularly with business developments in nearby Silvertown on the horizon.
However, it should be noted that the planning application to expand the airport – currently blocked by the Mayor of London – could hamper any future plans to develop the business.
GIP bought the airport for an estimated £750million in 2006 from Irish financier Dermot Desmond, who paid £23.5million for the airport in 1995 from UK construction group Mowlem.