The £325m restoration of Manchester Town Hall could run over budget due to rising construction costs with delays possible, a council report has revealed. The major project - the biggest of its kind in the country - is currently keeping within its budget, but soaring inflation in the sector puts this position at risk.
Under the worst case scenario, the Our Town Hall project would need an extra £17m, councillors will be warned at a scrutiny committee meeting next week. The completion date of June 2024 could also be delayed by several months.
It comes as the cost of materials in the construction industry increased by more than 44 pc over the last two years, compounded by labour shortages. The unique nature of the painstaking work to restore the Grade I listed Victorian neo-gothic building requires specific materials to be sourced.
