FOLLOWING the Review's revelation that St Albans District Council has pumped thousands of pounds into Bricket Wood sports centre since its closure, the authority has ended its lease with HSBC nearly five years early.

The council has agreed a deal with the bank worth £550,000 to end the lease adding that it would have cost at least £1.4 million had the contract been left to run until it expires in March 2014.

Talks continue over the council's obligations to contractor Leisure Connection, which until March was running the leisure centre and swimming pool.

Councillor Anthony Rowlands, cabinet member for sport and leisure, said: "The council was subsidising each visit to Bricket Wood to the tune of £5.47.

"This is just not sustainable. The settlement is less than half of what the owners HSBC were seeking at the outset.

"Overall, the decisions taken have saved the council over £700,000 and that’s not counting the dilapidations payment that would have been imposed anyway at the end of the lease.

"As pledged, savings on Bricket Wood can be channelled towards funding the re-development of Westminster Lodge.”

The council did not reveal the exact costs last week for security, insurance and maintenance, exposed by questions from Tory leader Julian Daly, but now says £167,000 has been spent since March.