A £5 per year rent agreement has been agreed that will keep Cheltenham's Sandford Park Lido open and operating for the next 35years.

In a joint announcement released last night, Cheltenham Borough Council and the charity in charge of the open-air pool, Sandford Lido Ltd said a new lease had been agreed.

The announcement of a new Heads of Terms agreement ends fears that the Lido would be forced to close.

In the summer, the charity that runs the Lido said that talks on extending their current lease that was due to expire at the end of 2021 had hit a stumbling block.

There were fears that the council was set to ask for what was called "a substantial annual rent from the charity."

Talks took place to settle the problem ahead of last night's announcement that a deal had been agreed that will see the low rent maintained and the Lido keep most of the car park income.

The joint statement said: "The Lido trust will continue to pay the council a peppercorn rent of £5 per year and retain the majority of the car park income."

Council cabinet member for finance, Councillor Rowena Hay, said: "I'm delighted to offer the Lido trust a nominal rent and agreement for them to retain the car parking income they need for the future.

"We value the heritage of our town and know that Cheltenham people do too, so we work hard to preserve our local heritage assets like the Lido."

The trustees of the Sandford Lido Ltd said: "We are pleased that the council have recognised the importance of the Lido within the community. We look forward to working with them as the Lido continues to develop.

''On behalf of our Trustees and staff thank you to all our Lido community who have supported us over the last 24 years and during the lease renewal process."