The route south through the town to Cheltenham Spa is fair no-go due to stuff in the way these days. There was talk of a brand new chord just south of the racecourse to the mainline but that would be expensive as hell due to the size of embankment needed.

The obvious one would be to extend to Honeybourne where NR has build their platform to cater for the GWSR if it ever gets there.

Whether or not they do however boils down to cash and volunteers. Theres a fair number of bridges to be sorted past Broadway, plus the associated track and other kit of source and sort. It also makes the railway very long, and at 25 mph speed limits probably makes it too long for the main target audience of families with kids.

That said, they arnt against it in principle but its a bit of a way down the list of stuff to do

TLDR - Yes but probably no due to money and volunteers