Bristol Arena project costs rise to £156m

The cost of a proposed arena in the centre of Bristol has risen to more than £156m, according to a new report.

A value-for-money assessment, commissioned by Bristol City Council, found the Temple Island scheme would cost £33m more than the approved budget of £123m.

It found building at the former Filton airfield site instead would be cheaper.

The Bristol Arena project has been beset by delays and spiralling costs since it was first proposed in 2003.

Plans to build a 12,000-seat venue in the city centre, next to Temple Meads railway station, were put on hold last November when mayor Marvin Rees asked for the value-for-money review.

The reports by accountants KPMG found a mixed-use of the Temple Island site - such as houses, shops, a hotel and conference centre - would generate £875.3m and create more than 2,000 jobs over 25 years.

An arena on the same site would generate £387.1m and create 660 jobs over the same period.

An alternative site has been offered at Filton, which would be funded by its Malaysian owners YTL Developments.

The company said it will build a 16,000 seat arena at the former Brabazon hangar but have stated it would require new transport links, estimated to cost about £50m, which the council would need to fund.

Mr Rees said the reports "give us the foundations for an evidence-based decision about the best way forward for Bristol".

"These reports now provide an opportunity for everyone to see the facts and have full view of the difficult and complex issues around this decision."

He is due to make a final decision on the location next month.

Former mayor George Ferguson said the report did not look at "the wider environment", and the arena should go ahead at Temple Meads.

"It's not looking at the huge benefits that will come to the businesses around Bristol."