The £31m swimming facility to be built in Bolton has been named, just as the project has reached financial close.

The new centre, which will also boast health and academic facilities, will be known as Bolton One.

The name was chosen from a shortlist drawn up by Bolton Council, NHS Bolton and the University of Bolton, the three organisations involved in the project.

Cliff Morris, leader of the council, said: "Bolton One represents three partners coming together and our aspiration to provide the best facilities for the town. The name has been chosen to represent the breadth of services that will be contained in one centre, under one roof, for one community."

Bolton One will house an eight-lane, 25m swimming pool with seating for 250 spectators; a therapeutic hydrotherapy pool for disabled people; a fitness suite; an aerobics studio and a community gym.

The scheme was developed by the BRAHM LIFT company and will be built by the Eric Wright Group. The centre will be managed by Serco.

Preparatory highway works are to begin next week and the project is due to be completed by early 2012.