News / Bristol Beacon
Council contribution to Bristol Beacon refurbishment rises to £84m
Even if Bristol’s cabinet decides to stop work immediately on the Bristol Beacon refurbishment project, ceasing work and making the building safe will still cost £12.5m.
An immediate stop to the works on the historic venue is very unlikely at this stage in the project; but it is one of three options presented to the cabinet in a report published on Monday evening.
Bristol’s mayor and cabinet are set to decide to complete the project with a renewed investment of £25m rather than stop or pause the scheme, which would both incur significant costs.
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If work does continue, the total cost of the refurbishment will be £131.9m, with Bristol City Council’s contribution likely to be £83.9m – more than eight times the original estimate.
The redevelopment of the Bristol Beacon will cost almost three times its original budget of £48.8m, which included £10m from the council in the initial estimates.
The significant overspend has been blamed on “the nature of the project in a listed, poor-quality structure and the volatile economic and geopolitical context (which) has meant that despite being well resourced and managed, the project has continued to encounter significant challenges”.
Bristol mayor Marvin Rees and Bristol Beacon chief exec Louise Mitchell – photo: Bristol Beacon
Under the arrangements for the historic building, the Bristol Beacon charity – formerly known as Bristol Music Trust – is an arm’s length body who manage events at the venue.
Bristol City Council is the freehold owner of the building formerly known as the Colston Hall, and is “the accountable body for the overall (refurbishment) project with ultimate responsibility to underwrite costs of development and ultimate funder of last resort including funding risk and construction risk”.
The cabinet report says that “the impact of inflation and external influences on the budget has been significant and the complex and flawed fabric of the building has continued to cause problems negatively effecting time and cost”.
The vastly increased costs for the council mean that when the venue reopens, the council will no longer provide revenue support.
There are heavy hints in the report that the council is keen to introduce an alternative operational model for the venue “to ensure that as well as protecting the cultural impact of Bristol Beacon, the council receives value for money for its investment”.
One piece of good news is that the Bristol Beacon now has an opening date of November 30, but the report says that “changes in key dates are highly likely due to numerous external factors”.
Bristol Beacon is due to open its transformed spaces on November 30 – image: Bristol Beacon
Main photo: Martin Booth
Read next:
- Bristol Arena opening date delayed but capacity increased
- ‘Let’s make Bristol and Bristol Beacon a place of welcome, warmth and inclusivity’
- Music video provides glimpse inside Bristol Beacon’s new spaces
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