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Council transfers the Oasis to private company
9:23am Friday 1st June 2012 in News
THE Oasis Leisure Centre was today transferred to a private firm from the control of Swindon Council.
Moirai Capital Investments, a developer, has formed a new company called Oasis Operations Ltd, which will own and run the centre.
The new owner will complete a year-long refurbishment and develop plans to built new leisure facilities, including an indoor ski slope and 7,000-seat concert arena, on the nearby vacant site of the former Clare’s factory.
Under the transfer agreement, Oasis Operations Ltd will own the building, but Swindon Council will keep the freehold.
This will allow the council to gain a £50,000 annual lease income instead of paying out the current £400,000 annual subsidy.
The council has a seven-year break clause allowing it to reclaim the Oasis if progress has not been sufficient.
The Oasis will remain fully open following the transfer and throughout the improvement works which will begin later this year. All prices will remain as they are, the parking arrangements will remain unchanged, and events and concerts already booked will go ahead as normal.
The first phase of development will see improvements to the changing facilities and the reception area.