G4S has agreed a £200 million deal to design, build and run a new police station to be based in Lincolnshire.

The security firm has signed a ten-year deal, which will see more than 500 staff move to the private sector.

The building will take on a hub-and-spoke style design, featuring more than 30 custody cells and a two-storey office block, while automated barriers could be used for access.

It is likely that the deal will help Lincolnshire's police authority save £2.8 million per year over the next decade, which will help to offset a £19.7 million cut in funding by the government.

Kim Challis, group managing director of G4S government and outsourcing, said: "We are delighted to have the opportunity to implement many new innovations, such as our purpose-built 'Bridewell' custody suites – the first of which will be completed within a year."

G4S claims to be the world's leading security solutions group in the world, and it will recruit around 10,000 staff to ensure safety at the London 2012 Olympic Games this year.

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