Like this page?
Send it to a friend!
Credit crunch hits leisure centre
Work on Romford's new ice rink and swimming pool stalls as developers tighten their belts.
Building on Romford's new leisure centre has been halted because of the credit crunch.
The complex was to include a new swimming pool, ice rink, and flats. However falling property prices mean the new homes won't bring in enough cash to fund the project.
Havering Council insists it is still committed to delivering the £30 million development, and the delay is only temporary.
But it will come as a bitter disappointment for local residents who had been expecting the state of the arts leisure, which was to include a gym, dance and fitness studios, as well as the new swimming pool and ice rink.
Cllr Eric Munday, Cabinet Member and Project Leader for the Romford Leisure Development Complex, said:
“The contractor Orion has worked hard to come up with a solution to the funding problem but due to the worldwide economic difficulties it has not been possible.
"The Council remain committed to delivering the Romford Leisure Development and my colleagues and I are disappointed that factors out of our control mean that this, like other similar schemes across the country, cannot proceed at this point. It will begin as quickly as possible once the property market recovers."
So how is the credit crunch affecting you? email me your stories at email@example.com
last updated: 03/10/2008 at 21:03