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Cost of Olympics media centre has tripled to £400m
Matthew Beard, Evening Standard26 Feb 2008
The cost of the media centre for the London Olympics could rise to £ 400million - almost three times the original estimate - the Standard has learned.
Surveyors' estimates for the International Media and Broadcast Centre have emerged as Olympics chiefs prepare to select their "preferred bidder" for the key project later this week.
Sources say the venue in the Olympic Park - originally budgeted at £ 134million - is now being costed at between £300million and £400million.
The Olympic Delivery Authority wants construction firms to contribute up to half of the building costs. The successful bidder for the centre would, in return for its joint investment, share any rental income from the venue after the Games with the landowner, the London Development Agency.
On Thursday, the ODA board will decide which of the two remaining bids - from French firm Bouygues and English rivals Carillion - would best deliver an affordable facility for the Olympic fortnight.
The media centre within the Olympic Park in Hackney Wick will serve 20,000 broadcasters, print journalists and photographers - the world's largest media contingent for a single event. Work is due to begin on the site early next year.
After the Games the 1.3million square metre facility - the same floorspace as Canary Wharf's Canada Tower - will be converted into a "creative industries" hub.
Olympics chiefs hope the venue's hitech media facilities can be adapted so it becomes home to television, film and new media companies, creating up to 13,000 jobs. On a recent trip to India, Ken Livingstone encouraged Bollywood companies to consider making it their London address.
Already the LDA has rejected proposals for a supermarket distribution centre, insisting it creates too few jobs. Detailed plans remain under wraps, although it is thought Bouygues has proposed "Pinewood Mark II" by borrowing the model of the Buckinghamshire film studios. But budget will have to be considered.
Shadow Olympics minister Hugh Robertson said: "The ODA need to come forward with an explanation of where the compensatory savings are to be made if we are to avoid a massive budget overrun."
Reader views (3)
As a London ratepayer who is subsidising this circus let's hope it is worth it.
- R.L.Cooper, Hornchurch- Essex- greater London -London-England, 28/02/2008 17:22
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If I were a politician, I would never make the mistake of publishing first estimates. I'd take the original number and multiply it by seven or eight. Then I'd be a hero. Trouble is, our politicians aren't very bright. Still, they're trying to learn - a group of them went to Canada last month 'in preparation for the Olympics' at a cost of £63,000. Are they preparing to run, or jump or heave the discus?
A recent poll showed that 23%of people said they thought the Olympics a good thing. Unfortunately, 34% said they're OK if you win something, and 78% said they might do a bit of gardening instead of watching. Only 2% said they would drag out there (wherever it is) to watch.
- John Problem, Winchester uk, 27/02/2008 16:27
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Yes indeed. As the only politician at the London Assembly who predicted the £10 billion Olympics before the bid had even been submitted, this project is a particular horror story. It is all very well creating a vast space for a "creative hub" but cards on the table, does anyone really know what that means? In real terms? Does it mean space for newspapers and magazines? Does it mean that the BBC and ITV are going to be forcibly relocated out there at enormous cost? Or does it mean nice little collectives of people "creating". Will the Marshgate Lane school of painters of the mid 21st century dominate the thinking of the Brian Sewells of the future. I won't allow you the customary two guesses. Creative industries, in which I have worked all my life until I came into politics, do not respond to state diktats nor march in regimented fashion towards centrally directed goals, aims and buildings. Well they do in China and in the old Soviet Union. If I am not elected Mayor, I look forward to being granted one of these spokes of the creative hub where I can write my state approved symphony 'A politician's reply to just criticism of his claims about the Olympics'...
- Damian Hockney Am, Mayoral candidate, One London Party, City Hall, 26/02/2008 16:19
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