Subscribe to our Construction Newsfeed
UK Construction Directory
Search our 156,846 companies....

Construction News

10/04/2017

Garden Bridge Costs Surge To Over £200m

Construction News Image
The cost of a proposed new pedestrian bridge over the River Thames has spiralled from £60 million to over £200m, according to an independent review.

London Mayor Sadiq Khan commissioned Dame Margaret Hodge MP to undertake a review of the Garden Bridge project in October last year.

Plans for the scheme include building a new public garden and pedestrian crossing across the Thames, providing a new route between north and south London and featuring plants, trees, woodland and meandering walkways.

However, Dame Margaret's review has concluded the risk to taxpayers has intensified. With original plans to fund the scheme through private finance having been abandoned, the Garden Bridge Trust has lost two major private donors and has pledges of £69m with no new pledges secured since August 2016.

Already, £60m has been pledged from the public sector, leaving a £70m funding gap. Little progress has also been made on raising money to fund the ongoing maintenance of a completed bridge.
-- Advertisement --
hss



In her report, Dame Margaret said: "Value for money for the taxpayer has not been secured. It would be better for the taxpayer to accept the financial loss of cancelling the project than to risk the potential uncertain additional costs to the public purse if the project proceeds.

"In the present climate, with continuing pressures on public spending, it is difficult to justify further public investment in the Garden Bridge.

"I would urge the Mayor not to sign any guarantees until it is confirmed that the private capital and revenue monies have been secured by the Garden Bridge Trust."

In addition, Dame Margaret concluded two Transport for London (TfL) procurement processes for the scheme were not open, fair and transparent. In addition, Dame Margaret concluded decisions on the Garden Bridge were "driven by electoral cycles rather than value for money".

In response to the review, Lord Mervyn Davies, Chairman of the Garden Bridge Trust, said: "We are pleased that Dame Margaret has finally published her report after six months of uncertainty. We will be studying the report in detail and seeking a meeting with the Mayor to discuss next steps. The Trust remains as determined as ever to make the Garden Bridge happen which will bring huge benefits to London and the UK."

To read the full report, visit here.

(LM)

Latest Construction News

10/03/2025
Birmingham City Council has submitted a planning application to regenerate Druids Heath, proposing the construction of approximately 3,500 new energy-efficient homes. The development will also include enhanced green spaces, improved infrastructure, and revitalised commercial and community areas. A
10/03/2025
The government has announced reforms to the planning system, focusing on streamlining the statutory consultee process to accelerate growth and achieve the target of 1.5 million new homes. Organisations like Sport England, Theatres Trust, and The Gardens Trust may be removed from the list of mandator
10/03/2025
Clancy has been awarded a £250 million water services contract with Southern Water, solidifying their partnership to deliver essential water services across the south east of England during the AMP8 regulatory period. The contract, beginning in October 2025 and lasting until 2030 with potential ext
10/03/2025
Brent Council and Wates have commenced construction on the Zephaniah House site in Wembley, marking the start of a project to deliver 54 affordable homes. A ground-breaking ceremony celebrated the official start on site. The Zephaniah House development, formerly Ujima House, will also include works
10/03/2025
The UK Atomic Energy Authority (UKAEA) has marked the completion of phase one of its redevelopment at Culham Science Centre, a significant step towards establishing the campus as a leading global centre for fusion technology. This redevelopment is crucial for supporting the UK’s goal of delivering
10/03/2025
The shortlist for the 2025 UK Roofing Awards has been finalised, following a record number of entries. Judges have completed their review of submissions across 16 categories, showcasing a broad range of roofing and cladding disciplines. The winners will be announced at the UK Roofing Awards ceremon
07/03/2025
GMI Construction Group has announced the practical completion of the £32.9 million Urban 8 Logistics Park in King's Norton, Birmingham. The project has transformed the former Pilkington Automotive and GKN Aerospace sites into a 400,000 sq ft state-of-the-art warehousing and logistics hub. Developed
07/03/2025
The redevelopment of the former St Ann's Hospital site in South Tottenham has reached a significant milestone, with the topping out of 240 new homes. Peabody and development partner The Hill Group celebrated the event on Friday 28 February, joined by Deputy Mayor for Housing and Residential Developm
07/03/2025
Mace has been appointed to redevelop Imperial College London’s largest venue, The Great Hall, located in the Sherfield Building on its South Kensington campus. The project will transform the 4,230 sq. ft. hall into a flexible, multi-purpose space capable of being converted into three lecture theatre
07/03/2025
Hyperion Tiles is offering a 10% discount on all purchases this weekend, providing an opportunity for homeowners to upgrade their bathrooms and other spaces. The family-run business, known for its extensive selection of high-quality tiles and flooring, is running the promotion for a limited time. C
Lakeside HireT & D Glazing And Installation LimitedThink Construction Skills Ltd.Efco UK LtdBRICOFLOR UKAqua Direct LtdStuart CanvasMeadowson LtdBlast Spray & Polish LtdCorporate Debt Recovery Limited