Published 7th December 2021
Next week, Ipswich Borough Council’s Executive will be asked to endorse the principle of the Council loaning £1.8m to Fusion Lifestyle to enable them to deliver the long planned works to Broomhill Lido work. These works are intended to transform the dis-used Grade 2 listed heritage asset back into a much loved swimming and leisure asset for the town.
The proposed £1.8m loan would supplement a £3.5m National Lottery Heritage Fund Grant and an existing grant commitment from Ipswich Borough Council of £1.5m. Fusion Lifestyle are also contributing financially to the project and will manage the site when it is back open (hopefully during 2023).
The loan is being proposed following discussions with Fusion Lifestyle. The impact of Covid-19 on the company’s operations means that, while they remain fully committed to the project, they need to secure additional funding and have concluded that – in the circumstances – the Council is the only realistic option. The terms of the loan from the Council will require the money to be repaid in full with an appropriate rate of interest.
Councillor Bryony Rudkin, Deputy Leader of Ipswich Borough Council, says:
“The Broomhill Lido project is really important for our town and has widespread support. I am recommending that the Council offers to extend its support for the project as – without that offer – the project would almost certainly fail. Bringing the listed lido back into use has long been an ambition of the Council and we continue to value our positive relationship on this project with Fusion Lifestyle.”
Anthony Cawley, Chief Executive of Fusion Lifestyle, says:
“We are really pleased that the Council is open to lending us funds to support this project. It has long been one of our ambitions and despite the impacts of Covid we remain committed to it.”
Anne Jenkins, Director (Midlands and the East), National Lottery Heritage Fund, says:
“Thanks to National Lottery players, we were able to invest in this important project to bring the Lido back into use for the benefit of Ipswich and the wider area. We hope the on-going partnership between the Borough Council and Fusion Lifestyle will provide a high quality facility for health and well-being in a historic setting.”
For further information please see the Executive report to be discussed on 15 December 2021 here.
Fusion Lifestyle can be contacted here.
See here for Ipswich Lido information on Ipswich Borough Council website