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4 Comments- Add comment | Back to News Written on 08-Mar-2010 by wtscINDOOR COURT UPDATE
The final arrangements for construction of the 4 indoor courts are now in place and work will start on site on Tuesday 6th April.
The contract went out to tender in January and the tender process was coordinated by the project managing company, Lee West Associates. Dove Construction were successful in the tender bid process and we are pleased to say that the tender costs are within the original forecasted costs of £800K.
Dove Construction, based in Cheltenham, have worked closely with Summit Structures (who manufacture and provide the fabric frame structure) on a number of projects and are therefore very familiar with the requirements of our development.
The confirmation of LTA funding has also been finalised and there is some very significant positive news to report in that the ratio of grant to loan funding has been changed.
Our financial projections were based on a grant of £140K and an interest free loan of £260k. The actual funding offer that we have received is for a £300K grant and an interest free loan of £100K. This is a significant improvement and immediately reduces our annual repayments to the LTA over the 10 year payback period by £16K.
The construction period is projected to last 25 weeks and we will have the courts ready at the start of October in time for the 2010-11 winter season. The next consideration is how the club operates over the next 6 months while the construction is going on. We will be working closely with the contractors to minimise any inconvenience to members and will aim to keep members well informed throughought the construction period.
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written on 09-Mar-2010
jeffward says:
Great news,
it's good to see that we are now moving on building the indoor courts and even better news that we have a better financial deal than originally proposed.
Well done Billy(@16x16C).jpg)
written on 09-Mar-2010
Fin says:
Geoff is right, this has dragged on for too long but bringing it to a conclusion is excellent news.
The improvement in the deal is a significant bonus, we really should consider adding a lining to the roof in order to ensure that we do not get condensation problems. We should be able to add a lining and still be ahead of the financial projections that the project was based on. I assume this was in the contingency planning?__3__(@16x16C).jpg)
written on 09-Mar-2010
wtsc says:
The condensation issue was given consideration by the Club in conjunction with the LTA and our project manager. We also spoke with a number of clubs with a Summit Structures singles skin indoor court building and their response was consistent that the condensation issue has not been significant.
The cost of an additional skin would be £70,000 plus VAT, meaning that the club would need to borrow an additional £80K from the bank. (we cannot recover all the VAT due to our partial exempt status)
Given the significant additional cost and the feedback from other clubs, it was felt that this option was neither affordable or justifiable.written on 01-Apr-2010
jeffward says:
It would be good to see an update that says the work is starting next week :-) Is it?
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