Morgan Sindall reaches financial close on £38 million Basildon Sporting Village scheme

Construction and regeneration group Morgan Sindall has reached financial close on a 25-year, £38 million PPP scheme to deliver a unique, energy-efficient sporting hub for Basildon Council.

Known as Basildon Sporting Village, the scheme is being led by Community Solutions for Leisure, a subsidiary of Morgan Sindall's investments division. Construction work is being carried out by the Group's construction division Morgan Ashurst, with its design and engineering business Morgan Professional Services undertaking the civil and structural engineering, mechanical and electrical design.

Identified as a potential training camp for the 2012 Olympics and Paralympic Games, Basildon Sporting Village is the largest sports project in the Thames Gateway, Europe's biggest regeneration scheme. 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.

"We are delighted to be the chosen partner to work with Basildon Council on this exciting project," says Paul Smith, chief executive of Morgan Sindall plc. "It is a perfect example of the synergies that exist within our divisions, drawing on the Group's investment, design and construction capabilities.

"The pipeline of investment-related opportunities is healthy and we expect to be pursuing a growing number of these opportunities in the future."