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

Technical Support Officer

Wyre Borough Council
Grade 5 £25,992 – £27,711
This is a really exciting time to join Wyre Council, with a new Leader and Chief Executive leading our next chapter. Poulton-Le-Fylde, Lancashire
Recuriter: Wyre Borough Council

Residential Worker

Essex County Council
£27934.00 - £35344.00 per annum + + 26 Days Leave & Local Gov Pension
Residential WorkerPermanent, Full Time£27,934 up to £35,344 Per Annum (includes allowance) equal to £14.48 to £18.32 Per HourLocation
Recuriter: Essex County Council

Early Years Keyworker

Royal Borough of Greenwich
£37,068 - £38,058
Want to make a difference for children with special educational needs in Greenwich? Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Early Years Area SENCo

Royal Borough of Greenwich
£39,855 - £42,324
Have you got extensive experience in working within Early Years, with a clear understanding of child development Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Young Persons Substance Misuse Service Pathfinder

Royal Borough of Greenwich
£31,524 - £32,931
Are you looking to change the lives of young people? Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich
Linkedin Banner