The £65m project to overhaul Oasis Leisure Centre in Swindon, UK is moving forward with Swindon Borough Council signing a lease agreement with Moirai Capital Investments to start the work.
The scheme will include the construction of an indoor ski slope, an indoor arena and a water park.
The centre will be handed over to a private operator on 1 June this year to revamp the site and replace its glass dome.
Swindon Borough Council cabinet member for leisure and corporate services Keith Williams said that the signing of the leases is a major step forward in the council's plans to turn Swindon into a major leisure destination.
"This leisure scheme is really exciting for the whole town and will really put us on the map," Williams said.
The council has signed a collaboration agreement with Moirai after granting four long-term leases covering the Oasis and the former Clares site.
Work is scheduled to start in the next few months and be complete in March 2013.
The council believes the redeveloped leisure centre will be a major boost to the local economy, attracting up to four million visitors a year.
Construction services provider ISG and Sir Robert McAlpine will build the centre.
A planning application for a master plan of the former Clares site opposite the Oasis would be required within two years of the lease. Detailed planning applications would then be submitted for each individual phase.