Financial close was reached today on the Rotherham Borough Council Leisure PFI project.
The £35m project includes the design, build, finance and operation of four leisure facilities in Rotherham, South Yorkshire.
The project, that sees DC Leisure partnering with Rotherham Metropolitan Borough Council, will involve the construction of St Ann’s – Central Rotherham Pool, an extensive pool complex and a multi-million pound development at Maltby, comprising the council’s Joint Service Centre and a new leisure complex. In addition, the project will also provide two dual-use leisure facilities at Wath and Aston, both situated adjacent to secondary school campuses.
The majority of the new facilities are due to be completed in 2008 in a concession that will run for 32 years.
Operis reviewed the financial model and provided tax and accounting advice on behalf of Barclays Bank.