Quote ="Mrs Barista"Will be interesting to see what happens next. The previous cost of £6.5m was going to be borne as follows:
ERDF Funding 2.3m
Enterprise Hub etc 2.3m*
Hull KR (Stand cost) 1.9m*
Total 6.5m
* Via central government loan, interest rate and term tbc.
I think they're now saying that the cost is actually around £7.3m, so it remains to be seen how much of the overruns are attributable to understimating the stand cost, which Rovers will pay for, and how much the Enterprise Hub pays for. On a pro rata basis would be another £200k ish for Rovers to borrow, or maybe a simple draw-down from the soft loan from Mr Allam.'"
Doubt it, contract prices are plummeting recently. One of my clients has had to shave 20% off a contract to keep the next phase. Labour rates are less than half of 3 years ago, with some joiners on £7.50 per hour as apposed to £15 + per hour a while back (some over £20 p/h). Unless our board have no savvy at all (which is doubtful seeing as most are millionaire businessmen) the build cost should be coming down.
