BASINGSTOKE council is about to settle the bill for the new Aquadrome swimming and leisure complex - at more than £1.25million pounds over the original budget.

But council leaders still feel they have got a bargain.

They are asking Thursday's meeting of the council to approve final payment of the construction cost of £11,795,000 to contractors Willmott Dixon - who have agreed to accept this sum in settlement, although they were asking for £13million.

To the final sum must be added £1,194,500 for professional fees and other project costs - a total for the Aquadrome complex of £12,989,500. This compares with the original budget in June 2000 of £11.7million.

In the recommendation to councillors to approve the settlement, council leader Brian Gurden and deputy Rob Donnelly say that the final construction cost of £1,738 per square metre is one of the lowest for a swimming complex built anywhere in the country in recent years.

They cite Southampton Swimming and Diving complex at £1,743 a square metre, Manchester's Commonwealth Games pool complex at £2,332 and Clissold leisure centre in Hackney, East London, at £2,591.

They also point out that the old Lido and Ice Rink site cost the council £405,000 a year to run. Under the new running contract, they receive £160,000-a-year income from the Aquadrome.

This is a total of £1.38million over the eight-year life of the contract - and an improvement on the original position of £515,000 a year or £4.12million over the course of the contract.

The council has already agreed previous increases in the construction budget in the two years the project has been running, so next week, councillors will be asked to approve a further £496,000 for the final settlement.

Cllr Donnelly told The Gazette: "There is an overspend - but it's still extremely good value for money.

"The out-turn from its finances will be beneficial to Basingstoke over the next few years.

"We are delighted with how the Aquadrome has turned out and that it has been such a success with the people of Basingstoke.