Parkwood launches Leisureplan to deliver PPP and PFI leisure schemes

Parkwood Holdings, parent company of leisure manager Glendale Leisure, is to invest in a new company in order to bid for and deliver Private Finance Initiative (PFI) and Public Private Partnership (PPP) schemes and expand its interest in the future of leisure provision.

The new company, Leisureplan, is being set up through a joint venture with Barclays European Infrastructure Fund and will see Glendale providing the day-to-day management on behalf of Parkwood.

In September 2001, Parkwood secured the contract to design build, finance and operate Crosby leisure centre, the UK's first leisure PFI project on behalf of Sefton Metropolitan Borough Council. The centre is due for completion in February 2003 and will be operated by Glendale.

'Historically, local authorities have been battling with limited resources and have not had access to the levels of funding required to improve and invest in leisure facilities,' said Paul Cluett, Glendale's managing director. 'This has led to an ageing portfolio of leisure sites nationwide which are in urgent need of renovstion, replacement and maintenance. PFI and PPP initiatives are a solution to this problem.'

The department for Culture, Media and Sport (DCMS) has allocated PFI credits to six authorities so far and is currently considering applications from several more. Glendale Leisure has recently secured three new contract extensions worth more than £5m.

The company currently manages 26 leisure facilities on behalf of local authorities and independent operators, has been awarded extensions by North Hertfordshire District Council, South Moorlands District Council and HASSRA, the provider of sports and social facilities for department of health employees in Leeds. Details: +44 (0)1299 253400