Construction group Morgan Sindall PLC (LSE: MGNS) said it has reached financial close on a £38 million Public Private Partnership scheme to deliver a sports and leisure complex for Basildon Council.
The 25-year scheme, known as Basildon Sporting Village, will provide facilities for sports, leisure and education in Gloucester Park, Basildon. Identified as a potential training camp for the 2012 Olympics and Paralympic Games, Basildon's Sporting Village is the largest sports project in the Thames Gateway, Europe's biggest regeneration scheme, the company said.
Facilities will include a 50-metre, eight-lane swimming pool with a viewing area for 450 people, an eight-court multi-purpose sports hall with retractable seating for 480 people, a fully-equipped gymnastics centre, a multi-purpose studio, a 100-workstation health and fitness suite and a climbing wall.
Work is due to commence in October 2009 and the project is due for completion in Spring 2011.
“The pipeline of investment related opportunities is healthy and we expect to be pursuing a growing number of these opportunities in the future,” the company added.