New Peterborough pool to cost £6m more than anticipated
The council will need to borrow £22 million
Last updated 13 hours ago
A major leisure complex planned for Peterborough will cost millions of pounds more than initially expected.
Peterborough City Council’s cabinet will be asked to accept an anticipated £20 million government grant towards the cost of a new eight-lane, 25-metre swimming pool at a meeting today (Tuesday 25th August).
The total expected cost of the project has now risen by £6 million to £43 million, meaning the city council will likely need to borrow £23 million to fund the project.
According to council documents, the higher budget for the swimming pool resulted from several factors including further design work, site investigations, world conflicts, inflation uncertainty, pre planning application feedback and construction cost increases.
Councillor Zameer Ali, cabinet member for communities and public safety, said: “We have committed to delivering a much-needed new swimming pool for the city as quickly as possible and the past few weeks have demonstrated the urgency we are applying to this project.
“Hot on the heels of the planning application being submitted, cabinet is now being asked to formally accept £20 million government funding and to take the necessary legal steps to allow detailed plans to be developed.”
The leisure complex will also feature a 20-metre activity pool with a moveable floor, a café, family play, health and wellbeing rooms, a 150-station fitness suite and two studios, plus a spin studio.
It is designed to replace the demolished Regional Pool and will be located south of the university and adjacent to the athletics track, overlooking the Embankment.
The planning application was submitted in July this year and is expected to be
determined in October.
Early in 2027, the council will be required to undertake a competitive procurement exercise to identify and appoint the preferred operator for the new leisure development.
It is anticipated that the procurement process will take around one year to complete, followed by a mobilisation period to enable the successful operator to prepare for opening.
Despite the increased costs, the project remains on track for a building
opening in September 2028.
The council continues to seek private sector funding or grants to assist with the costs.