[arista]

[Brighton's iconic i360 observation tower faces closure
over owner's '£51million' debt]

[An iconic tower in Brighton is facing closure
over the owner's £51million debt unless
it can find a rescue buyer.
The Brighton i360 observation tower,
designed by the architects of the London Eye,
opened in 2016 and allows visitors to view
the south coast at a 162 metre height.

But the owners, Brighton I-360 Ltd,
failed to pay £51million of debt
to the local council, which funded the
tower's construction in 2014 using money
from the government's
Public Works Loan Board.


Debts accumulated when the
attraction was hit by a fall
in visitor numbers during the
pandemic, while additional
attractions such as a roller skate rink
have also affected ticket sales.

The company today filed a notice of its
intention to appoint administrators with
the High Court, according to Interpath Advisor,
which is managing the attempted sale.
'The Brighton i360 has become an iconic visitor
attraction, welcoming hundreds of thousands
of visitors each year, but unfortunately is now
at real risk of closing unless a buyer
can be found,' Interpath's Charlie Carter said.

The attraction was designed by architects
David Marks and Julia Barfield, and built on the
site that used to marked the entrance
to Brighton's ruined West Pier,
before it burned down. ]


https://www.dailymail.co.uk/news/art...sure-debt.html

[arista]

Tragic ending
No Buyer found.

Who could buy it?
They would have to take the £51million
owed to Brighton Council on.

[arista]

[Brighton's i360 tower closes with 109 job losses
as owners go into administration while owing
council £51million]


[financially troubled i360 tower has closed
with immediate effect, with the owners confirming
109 job losses just days before Christmas.

The 162metre observation tower,
which sits on the coastal city's seafront and
was designed by architects of the London Eye,
opened in 2016.

But owners Brighton I360 Ltd, failed
to pay £51million of debt to the local council,
which funded the tower's construction using
money from the government's Public Works
Loan Board in 2014.]


https://www.dailymail.co.uk/news/art...istration.html

[Crimson Dynamo]

Yet another council-funded vanity project that ends in financial debt.

How hard was it to work out costs vs visitor rate versus admission fee?

[arista]

Originally Posted by Christmas Dynamo

Yet another council-funded vanity project that ends in financial debt.

How hard was it to work out costs vs visitor rate versus admission fee?

Yes back in 2016
The Green Party got the Loan
to build it


They were in power.



It needs someone like Elon Musk
to take over.

[ThomasC]

Originally Posted by arista

[Brighton's i360 tower closes with 109 job losses
as owners go into administration while owing
council £51million]


[financially troubled i360 tower has closed
with immediate effect, with the owners confirming
109 job losses just days before Christmas.

The 162metre observation tower,
which sits on the coastal city's seafront and
was designed by architects of the London Eye,
opened in 2016.

But owners Brighton I360 Ltd, failed
to pay £51million of debt to the local council,
which funded the tower's construction using
money from the government's Public Works
Loan Board in 2014.]


https://www.dailymail.co.uk/news/art...istration.html

That will be an eye sore, a pole not being used.

I went up it once. Nothing really that exciting.

[Dogeatdog]

How much does it even cost to go up this thing?

[Crimson Dynamo]

This is why voting for far left green idiots is a huge mistake

It's all about vanity and virtue signalling

[arista]

Originally Posted by ivy balls

That will be an eye sore, a pole not being used.

I went up it once. Nothing really that exciting.

At least you went up it
British Airways searching your bag

[arista]

Originally Posted by Here For The Leftovers

How much does it even cost to go up this thing?

For an Adult it was £18.99

Half price for young children





And the The Green Party in 2016




[Brighton i360 was designed, engineered,
manufactured and promoted by
the team responsible for the London Eye.
The attraction cost £46 million,
with £36 million being funded by a
Public Works Loan Board (PWLB) loan
through Brighton and Hove city council.]

[arista]

It had special night time deals
Champayne from British Airways
who ran it,well.


I went up it.
As no other is running like it,

[arista]

Originally Posted by Christmas Dynamo

This is why voting for far left green idiots is a huge mistake

It's all about vanity and virtue signalling

Yes the Labour Party is Now in Charge
blame the Green party
for starting the mega loan of £36million.


BBC Reported

[arista]

[Nightcap Ltd
Buyer confirms takeover of Brighton i360]


To open again in 30 or more days.


[Hospitality group Nightcap Limited,
which runs 46 venues in England and Wales,
has taken on the remaining 115-year lease
of the i360 for an as-yet undisclosed fee.

Sarah Willingham, founder and CEO of Nightcap,
said: "We couldn't be happier to welcome
the i360 to the Nightcap family."

The i360 went into administration
in November. Brighton & Hove City Council
then announced in January it would be writing off
the attraction's £51m debt.

Brighton-based Nightcap said clearing the
debt and any "historic liabilities" would
give the i360 a "fresh start" after significant
investment from the new owners.
"We pass the i360 every day and were
as disappointed as everyone else when
it went into administration and no buyer was found,
" said Ms Willingham,
a former star of TV show Dragons' Den.

"The impact of its closure would have
been catastrophic to our local businesses
and a blemish on this important part of the Brighton seafront.

"We hope we will get the support of our
tight-knit local community as we embark
on this new chapter for the i360."

Councillor Jacob Taylor, deputy leader
of the city council, said the sale was
the "best option" for Brighton.]


https://www.bbc.co.uk/news/articles/c3w83e8q54wo