A £4 million deal has been signed to build a multi purpose facility for the RYA (Royal Yachting Association) at Portland in Dorset in the run-up to the 2012 Olympic and Paralympic Games.

Regeneration company the Sutton Harbour Group has signed the deal with the RYA and the South West RDA, to create accommodation and conference facilities for use by sailors in their preparation for the 2012 Games, as well as for RYA members, affiliated clubs and associations.

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Work on the building will start in January and be completed next autumn. It is the first phase of the £30 million Castle Court tourism and leisure development on land owned by the South West RDA next to Portland Castle, which could create 600 jobs on the site.

Representatives of the RYA, Sutton Harbour Group and the South West RDA were joined by twice Olympic medallist in the 49er sailing class Simon Hiscocks at the Weymouth and Portland National Sailing Academy on Friday to mark the launch.

The deal follows the recent announcement of a £6.6 million investment by the RDA in Weymouth's seafront which will transform it in time for 2012.

Funding for the RYA project is being provided by RBS, which has worked closely with the Sutton Harbour Group to provide a bespoke financial package tailored to the needs of the project.

(JM)