Government support for multi-million pound Olympic-grade swimming pool in Peterborough

The Chancellor used her much vaunted Spending Review to invite city politicians to present a business case for the Olympic grade swimming pool to Treasury officials.

She told MPs that funds might be found to drive the creation of a Sports Quarter as part of the ARU Peterborough campus in Bishop’s Road.

Ms Reeves told MPs: “We will establish a Growth Mission Fund to expedite local projects that are important for growth like Peterborough’s new sports quarter to drive activity and community cohesion.”

The bid will be at the front of the queue when the application process for the new funds is confirmed in the summer with funding available from the next financial year.

It is known that Peterborough City Council is currently drawing up a business plan for a 50 metre indoor pool that is estimated to cost between £25 million and £40 million.

The move follows the recent demolition of the Peterborough Regional Pool in Bishop’s Road after the discovery of Raac and asbestos.

Peterborough MP Andrew Pakes said: "Great to see new pool and Sports Quarter around ARU Peterborough named in today’s Spending Review.

“Thank you to Peterborough City Council, City of Peterborough Swimming Club and ARU Peterborough for all working together on this.

“Let’s get together with the Mayor and others and get our bid ready.

“Huge opportunity for the city.

"Now we need to get on submit the business case.”

Mr Pakes said: “Today’s announcement is a major step towards a new pool for the city and improved leisure facilities in the city centre.”

It is thought that if the business case wins Government approval some funding – possibly up to 50 percent might be provided on the basis that the council and its partners, such as the Cambridgeshire and Peterborough Combined Authority, ARU Peterborough, City of Peterborough Swimming Club, and other private investors, provide the short fall.