In chancellor George Osbourne’s final budget before the UK general election, it was announced that negotiations are ‘opening’ for the £1bn (€1.3bn $1.42bn) Swansea tidal lagoon project in Wales.

The project, being masterplanned by LDA Design, who have also worked on the London 2012 Olympic Park, would feature the world’s first man-made lagoon, generating enough power to run 120,000 homes for 120 years.

As part of the masterplan,the lagoon would feature an international watersport centre and oyster hatchery, designed by FaulknerBrowns, upping Swansea’s leisure offerings significantly.

Inspired by ‘traditional fishing warehouse and boat houses’ the 4000sq m (43,056sq ft) building for the watersport and hatchery would boast sports facilities, changing rooms and boat storage.

A visitor centre is also part of the development. Designed by Juice Architects, situated at the end of the lagoons seawall, the project will include exhibition space, a lecture theatre, a cafe and educational facilities.

Envisaged to represent an oyster shell, the structure will appears to be made out of a series of shells ‘creating a place shaped from a range of overlapping forms enveloping interconnecting spaces.’

Budget 2015: Pubs toast chancellor’s beer duty cut

£500m Swansea city centre regeneration proposals unveiled

Plans unveiled for Swansea Bay watersport centre and oyster hatchery

New design panel appointed to shape future of London's Olympic Park