Brighton and Hove Council Folly

Brighton and Hove Council Folly

Again, this is one of those issues that I’m a little too late on but luckily I can still air my view.

Brighton and Hove Council have agreed to have the i360 phallic ring go up where the west pier used to be. In my humble opinion this is nothing but a wast of money.

I had a good google and read a few articles regarding this and I must say that in the light of all the negativity, all the financiers pulling out and local opposition that, Brighton and Hove Council in all of their wisdom still thought that it was a good investment. So much so that, they loaned the organisers 43 million pounds! But wait it doesn’t stop there, should the project fail there is no backup plan other than taking over the running of this monstrosity and trying to find another buyer. How stupid are Brighton and Hove council? (actually)

lets just rewind a little. lets assume that this was your idea and that you needed to raise finance. First stop the bank, who will look at the business plan, scratch their chins and say..”Nope..the figures don’t add up..” OK, not to worry, lets look at private financing who again would look at the business plan, forecasts and then scratch the heads and say “no..it doesn’t add up..” But wait, lets try Brighton and Hove council, they seem like the type who might be interested in buying London Bridge or The Eiffel Tower.

The organisers say (forecast) that this will attract an extra 800,000 visitors per year, where on earth have they found this figure? Perhaps they’ve been breathing thin air?

 “Brighton council defended the loan arrangement, saying that by borrowing the money at one rate of interest, and re-lending it to Marks Barfield Architects at a higher rate, it would net it at least £1m a year for the next 25 years” Yes, if the project lasts 25 years but again in my opinion it won’t last 10 years let alone 25 years.

I don’t want to sound too negative but in all reality the organisers will probably declare bankruptcy and the council will have to take over the running of it.

The cost per person is forecasted at £14. I imagine that any refreshments will also be at extortionate prices. There are no facilities in the ring so you’ll need to have gone to the toilet before you get on the ride

What the council have done (in my opinion) is just wrong on several levels. Why is the council getting involved in a private venture? Would they support your business plan?
The council is loaning money to one company in the hope that it is a success at the cost of other businesses in the area going bust, higher unemployment and the money being spent on other more deserving projects.

I grew up in Sussex and I happen to know Brighton reasonably well. I don’t go to Brighton as much as I used to mainly because it’s a little too expensive. Parking is expensive, it is very touristy with cheap and low cost food in tourist areas.

Having a phallus in Brighton that resembles nothing short of a sex toy won’t attract more tourists nor more local people and even if people are initially curios, it is one of those things that will go out of fashion quicker than it took to build.

I am very disappointed the council has taken this stance but you know, if we had really been bothered about it we’d have done more than just digitally signed a petition. We are as much to blame as the council and organisers. We should have been bothered about this at the planning stage and then grown a back bone a complained and rallied until they stopped. Now there isn’t much that we can do but take it like the doughnut for however many years that it stays up   :-)


Source:
https://en.wikipedia.org/wiki/I360,
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/10763286/High-price-to-pay-Observation-tower-divides-Brighton.html

Small business and missed opportunities
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Wednesday, 16 January 2019
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