The costs for the new Cowes floating bridge have today been revealed.
East Cowes resident, Michael Douse, has been pursuing the breakdown of cost for Floating Bridge 6 and how much has been paid to date.
Costs paid so far
The figures are staggering, particularly the overspend.
The naval architect, BCTQ who designed the bridge, has gone £58,627 over the original budget.
The budget for the slipway works was five times the original budget. It looks as though that’s because it was simply going to be resurfaced, but had to actually be reconstructed instead. Once the contract sum was set, the costs still went almost £200k over budget.
On budget
Mainstay Marine, who Welsh shipbuilding company who built the bridge, appears to be the only contractor that has remained within the original contract sum.
| Item | Budget (£) | Original Contract sum (£) | Revised contract sum (£) | Spent to date (£) |
|---|---|---|---|---|
| Naval Architect | 180,000 | 180,200 | 223,528 | 238,624 |
| Owner's rep | 40,000 | 40,000 | 68,736 | 62,807 |
| Shipbuilder | 4,000,000 | 3,171,249 | 3,031,249 | 3,142,250 |
| Slipway construction | 135,000 | 483,359 | 683,230 | 654,415 |
| Other | 301,750 | 343,905 | ||
| Total | 4,656,750 | 3,874,808 | 4,006,770 | 4,442,002 |
The ‘Other’ costs include (exact words as provided by the council)
ticketing, project management costs, class certification, new chains (not required) and tickets
More to follow.
Image: © With kind permission of Allan Marsh
