The £4 million 2012 Olympic and Paralympic Games facility for the RYA at Osprey Quay on Portland in Dorset has been formally handed over.

The former Royal Navy Air Station surrounding it is to become a major employment centre with up to 1,400 jobs by 2016.

The five-storey RYA Portland House includes a reception area, meeting rooms, storage, a small retail unit, three floors of 24 en-suite bedrooms and a top floor clubroom, bar and dining area with views over the water.

Elsewhere at Osprey Quay work has almost finished on the old Mere Tank Farm site, which has been cleared, levelled and services installed to provide flexible space for activities related to the 2012 Games, after which it will be available for a range of employment uses. The work has been paid for by the RDA and managed by the Borough Council.

A planning application has now been submitted for 17 small business units at Osprey Quay and work is also progressing well on a low carbon housing scheme that aims to be an exemplar of green development.

More than 70 low carbon homes are to be built to the north of Victoria Road, which should be completed in December.

Osprey Quay is located at the gateway to the Isle of Portland, adjacent to the Weymouth and Portland National Sailing Academy (WPNSA), the UK’s sailing academy and venue for the 2012 Olympic and Paralympic Games sailing events.