Situated close to the Cotswold Water Park village of Cerney Wick, Spinnaker Lake was worked for gravel in the 1970s and handed over to the Cotswold Sailing Club in 1984. The club has since purchased the site and built its own clubhouse.

The lake incorporates an attractive island and is alive with sailors at weekends and during club evenings through the summer. It is also a popular venue for young canoeists.

The site won a restoration award from the Sand and Gravel Association in 1994.