Business
Financial close on £38m Basil
Financial close on £38m Basil.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n RNS Number : 9461Y Morgan Sindall PLC 14 September 2009 \n \n\nMorgan Sindall plc\n\n14 September 2009\n\nMorgan Sindall reaches financial close on £38 million\n Basildon Sporting Village scheme \n\nMorgan Sindall plc, the construction and regeneration group, announces that it has reached financial close on a £38 million PPP scheme to deliver a unique, energy-efficient sporting hub for Basildon Council.\n\nThe scheme is being led by Community Solutions for Leisure, a subsidiary of Morgan Sindall's Investments division. The construction work is being carried out by Morgan Ashurst, Morgan Sindall's Construction division, with Morgan Professional Services, the design and engineering specialists carrying out the civil and structural engineering, mechanical and electrical design. \n\nThe 25-year scheme, known as Basildon Sporting Village, will provide state-of-the-art 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. 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. \n\nWork is due to commence in October 2009 and the project is due for completion in Spring 2011.\n\nPaul Smith, Chief Executive of Morgan Sindall plc, said:\n\n'We are delighted to be the chosen partner to work with Basildon Council on this exciting project. It is a perfect example of the synergies that exist within our divisions, drawing on the Group's investment, design and construction capabilities.\n\n'The pipeline of investment related opportunities is healthy and we expect to be pursuing a growing number of these opportunities in the future.'\nEnds\n\nNotes to Editor:\nMorgan Sindall plc is a top UK construction and regeneration group which operates through five specialist divisions of fit ou...