Laura Sharman 07 June 2018

i360 asks to delay loan repayments to council

The i360, Brighton’s seafront observation tower, has asked Brighton & Hove City Council if it can reschedule its loan repayments.

The business currently pays the council £570,000 in interest repayments but the attraction is asking to reduce these payments to £25,000 until 2024.

The council said the proposal would mean it would still receive the full amount agreed and in the same timescale.

Howard Barden, head of Brighton & Hove City Council's tourism & venues said: ‘The i360 is a new business and it isn’t unusual for a business to reschedule loan repayments in the short term to sustain profitability in the long term; it’s a sensible and pragmatic business approach.

‘The attraction has already proven itself as a popular visitor draw and has made a significant contribution to the city’s local economy. In less than two years of opening, it has provided over £2.5m to the council, money that we would not otherwise have had.’

SIGN UP
For your free daily news bulletin
Highways jobs

Head of Design Services

Lincolnshire County Council
£77,536 - £83,366
You will lead the delivery of a high-performing Technical Services Partnership (TSP). Lincolnshire
Recuriter: Lincolnshire County Council

Director of Adult Social Care Operations

Manchester City Council
£111,669 – £123,071
Manchester is a city that defines innovation, energy and ambition. Manchester, Greater Manchester
Recuriter: Manchester City Council

Director of Commissioning and Transformation

Manchester City Council
£111,669 – £123,071
Manchester is a city that defines innovation, energy and ambition. Manchester, Greater Manchester
Recuriter: Manchester City Council

Strategic Director of Adult Social Services (DASS)

Manchester City Council
£143,836 – £164,909
Manchester is a city that defines innovation, energy and ambition. Manchester, Greater Manchester
Recuriter: Manchester City Council

Chief of Staff

Borough Council of King's Lynn and West Norfolk
up to £126,615
We’re transforming services with ambition and community at the heart of our work. Norfolk
Recuriter: Borough Council of King's Lynn and West Norfolk
Linkedin Banner