St Richard's CE Primary School - extend lease

Description

The school swimming pool, which is leased on a long-term basis to a company called Springboard Swimmers Ltd. Under this agreement, Springboard Swimmers Ltd pays the school a monthly rental fee, this covers all running costs of the pool, and provides swimming lessons for our pupils at a reduced rate. When we first set up this arrangement, we invited several companies to submit quotes and ultimately chose Springboard Swimmers Ltd. A five-year lease was signed in October 2018, with an option to extend for an additional five years. We exercised this option before the initial term expired, so the current lease runs until October 2028 Springboard Swimmers Ltd know how to run the pool effectively. It is consistently open and very well managed. This benefits the school in two key ways: pupils are able to access swimming lessons at below-market cost (important given that 43% of our pupils are currently PPG), and the school receives a monthly income from pool lettings - a vital source of revenue as our pupil numbers decline and funding is reduced. Springboard Swimmers Ltd have successfully built a strong local client base, making the pool's operation financially sustainable. Developing such a client base takes considerable time and effort, something previous operators were unable to achieve.

Links & Documents

About London Borough of Richmond Upon Thames

Published contracts in the last 12 months

Similar contracts