Funding Scheme Approved for £91m Bristol Arena Plan
Bristol City Council has set out its borrowing plans to fund the building of a 12,000-seat arena in the city. The council aims to borrow £53m from the City Deal Economic Development Fund, managed by the West of England Local Enterprise Partnership. The remaining £38m would come from the arena operator and car parking income. Under the council plans, which need to be rubber stamped next month, the arena and conference centre will be built adjacent to Temple Meads Station and be completed by June 2017.
The mayor has also launched an international competition to design the arena and will now start the search for an operator. Mayor George Ferguson said: “We know that there is a ready audience to come to Bristol to see performances and we know that there are operators keen to run the arena for us but we also know that arenas cannot be built without some public subsidy.”
AECOM has been appointed cost consultant and employer’s agent on the scheme. Work could start in January 2016 if the scheme gets the go-ahead.