Swindon £120m Oasis leisure complex revamp stalled
Plans for a £120m leisure complex in Swindon have stalled after the local authority ended a deal with developers.
Moirai Capital Investment Ltd intended to build a ski centre, 5,000-seat concert venue and cinema around the existing Oasis leisure centre.
However, Swindon Borough Council said "key targets" had not been met and it had notified Moirai of its intention to end the development agreement.
Moirai said it had been unaware of the council's decision.
A spokesman added the firm would consider its position in the coming days.
The company has until 12 January to fulfil the terms of the agreement, which was first made in 2012. These include obtaining planning permission for the project.
The council previously extended the planning application deadline for the development after the firm failed to meet the original deadline.
Garry Perkins, from the council, said: "The council has given Moirai enough opportunity to take forward its plans but, ultimately, the council cannot hang on indefinitely and we have had to take this decisive action.
"We have a number of options we can pursue to ensure this ambitious vision is achieved and we're confident we can still create a landmark scheme that Swindon can be proud of."
Moirai's plans for the proposed complex included a skate park, hotel, restaurants and cafes. The company revised its original proposal following a public consultation.
A condition of the lease was to refurbish the Oasis, which was eventually completed at a cost of £3m.