The new facility would include a 500m oval cycling track - with a lake at the centre - as well as a 2km road track.

BBC: Velodrome plans for Middlemoor Water Park in Somerset

The chairman of the ODA John Armitt said the velodrome would be a "world-class cycling venue with a record-breaking track for events in 2012 and the legacy of first-class facilities to help create the next generation of Olympic champions".

BBC: Building work begins on velodrome

The "Colne Cyclone" has twice been part of a world-record breaking team this year - in the team pursuit final at the Track Cycling World Championships in Melbourne and on Thursday, as part of the Great Britain Olympic team, setting a new world-record time during the men's team pursuit track cycling qualifier.

BBC: Olympic gold medallist Steven Burke given civic honour

Whether using the Preva enabled 880 Line of Precor cardio equipment or wanting to track a variety of other activities such as cycling, strength training, running and more, Preva Mobile allows users to create a comprehensive log of activities, stay on top of goals and keep motivated.

ENGADGET: Preva Mobile for iOS aims to track your workouts, keep you going to the gym

World champion Cavendish had been strongly tipped to finally claim the Olympic medal that had eluded him at the 2008 Games in Beijing, where he was the only member of Britain's track cycling team to return from the games without a medal.

CNN: STORY HIGHLIGHTS

The Velodrome cycling track will be converted into VeloPark, which, with the addition of a mountain bike course and road-cycle circuit, will be open for community and club sports.

BBC: Touring the cities of Olympics past

On leaving Rookwood, Colbourne started training with the DSW Academy Para-cycling squad under the guidance of its coach Neil Smith, and in May 2010 debuted in a track race, the Wales Grand Prix.

BBC: Mark Colbourne after winning gold on Friday