Gatwick Unveils £256m of Pledges, Including 25% Above Market Value for Compulsory Purchases

    Gatwick Air Traffic Control tower

    Gatwick Airport has unveiled a whole host of pledges worth £256million as it waits to hear if it will be chosen for expansion.

    The pledges include a £3.75million fund for 2,500 apprenticeships, £5million for noise insulation measures and £46.5million to help local authorities deliver essential community infrastructure.

    Residents living near Gatwick, whose homes would need to be compulsorily purchased will be offered 25 per cent above the market value and a £131million Property Support Bond will be set up to cover this.

    Gatwick chiefs have said they were determined to prove they were “good neighbours” and not lose site of community concerns, as opposition to the idea of a second runway is becoming more vocal.

    Gatwick CEO Stewart Wingate said: “A second runway would create a £90billion boost to the UK. We are determined to be a good neighbour and not lose sight of the concerns of those communities close to home.

    “We’ve listened to local people and have created a wide range of pledges to deliver improvements in many of the areas that matter to them most, from new jobs and housing, to business support and noise mitigation.

    “These pledges will help Gatwick deliver on its promises to the local community and we challenge Heathrow to match our comprehensive local commitments in their own expansion plans.”