Bristolians have had their say after an exclusive story by BristolLive found Bristol Beacon, the former Colston Hall, is valued at zero pounds in the city council's accounts, despite a £107million revamp.
Bristol residents have slammed the millions of pounds spent on the building as a "massive waste," adding it could have been spent on new social housing, schools or public toilets.
It comes as the council has written off £39million on the project, costs of which more than doubled to £106.9million after on-site investigations found its crumbling structure to be a "worst-case scenario." It means, in financial terms, Bristol Beacon is effectively "worthless."
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Bristolians have reacted to the story on Facebook, with one person calling it "shocking" and another blaming Mayor Marvin Rees for "wasting Bristol's money."
Paddy Jefferies said: "That’s £40 millions wasted which could have been used to help the homeless, old peoples homes, schools and public toilets. Shaun Jefferies added: "That money could have been put into new social housing."
"Another total waste of tax payers money yet again. The Colston Hall just needed a lick of paint and would have been fine for another 100 years," said Geoff Wood.
Simon Bell added: "I don't see this offering a great deal of benefit to the residents on Hartcliffe, Knowle West or Lawrence Weston but they will be ones paying for it through their council tax," while Diedre Morrison said: "Another waste of money!"
The council says the total economic impact of the works will be about £410million over two decades, supporting nearly 400 jobs a year, and that this will “ultimately dwarf” the cost to repair and reopen the attraction, so it is “incorrect” to say the site has no value.
But Conservative Cllr Jonathan Hucker says the 2021 accounts show the council has so far written off £39million on the revamp, including £20million incurred in 2020/21 on top of £19million carried forward from the previous year.
You can read the full story here.
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