New investors take over Swindon Oasis leisure complex revamp

A new investor has been secured to take over a troubled scheme to build a large-scale leisure complex in Swindon.

Plans for a ski centre, hotel and cinema at the existing Oasis leisure centre stalled after previous developers Moirai failed to meet key targets.

However, the local authority has agreed a deal with Seven Capital Investments Ltd to take over the project.

Seven Capital said it expects the £270m complex to open in 2021.

Following a period of due diligence the developer has taken control of the 1,000,000 sq ft North Star site and is in the process of working on a planning application.

The new scheme will include an indoor ski centre, IMAX cinema, bowling alley, climbing wall and trampoline centre.

A hotel complex and a mix of bars and restaurants also forms part of the plan.

Seven Capital director John Watkins said: "This is a long-awaited development for the people of Swindon, and a very exciting project for Seven Capital.

"Not only will it bring a host of new leisure activities and brands for residents to enjoy, it will also help to attract many more visitors to the area."

Swindon Borough Council's cabinet member for the economy, skills and regeneration, Garry Perkins, added: "More than a quarter of a billion pounds will be invested in the site, which will give a huge boost to our local economy, not to mention the hundreds of jobs the scheme will bring, as well as greatly enhanced leisure opportunities."