Image: Center Parcs Woburn will feature 625 lodges

Construction firm ISG has secured a £61m contract to build the accommodation element of the new Center Parcs holiday village development in Bedfordshire.

Center Parcs Woburn Forest will be the operator's fifth UK village and the project will see ISG deliver 625 lodges across the 365-acre (148-hectare) site, which is scheduled to open in spring 2014.

Commencing in November, the 59-week fast-track scheme will create accommodation configured around woodland clusters and will feature Woodland, Executive and Exclusive lodges.

When completed, the £250m Center Parcs Woburn will also include a 75-bedroom hotel, an Aqua Sana-branded spa with 12 associated spa suites and two main centres housing indoor sports facilities, swimming pool, restaurants and retail outlets.

Private equity giant Blackstone, Center Parcs' owner, will invest £100m into the venture while four UK banks – RBS, Barclays, HSBC and Lloyds Banking Group – have committed to a construction loan of approximately £150m.

The accommodation element in Woburn is the latest contract awarded to ISG by Blackstone, which also owns the Nido student accommodation brand.

• Earlier this year, Center Parcs successfully completed a £1bn group refinancing secured against the existing four Center Parcs sites - at Whinfell Forest (Cumbria), Sherwood Forest (Nottinghamshire), Elveden Forest (Suffolk) and Longleat Forest (Wiltshire).