Bristol Arena cost 'may have £3m added because of inflation'

The Buckingham Group, which is behind the Temple Meads bid, says it is committed to deliver the Arena

The company behind one of the bids to build Bristol Arena has warned a year-long delay in starting work could lead to costs rising by nearly £3m.

Two locations are being considered, one by Temple Meads the other at an airport hangar at Filton, some five miles away.

Last month mayor Marvin Rees delayed a decision on where it should be built, asking for "clarity on options".

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

Mr Rees said a report prepared for the council had "missed the bigger question" over potential developments of the Temple Meads site.

He said the report focused on a choice between the two sites and had "missed the bigger social and economic questions around the potential developments of Temple Quarter".

YTL has proposed a 16,000-seat arena arena at the former Brabazon hangar at Filton

The Buckingham Group, which is behind the Temple Meads bid, it was committed to deliver the Arena "for no more than the £122m quoted".

"We have responded positively to the mayor's requests for further clarity regarding cost certainty and the shovel readiness of the Arena Island site," a spokesman said.

"Construction price inflation is a real and obvious concern which will impact significantly on the cost of construction, if the opportunity is not taken to commence the Arena project at the earliest opportunity."

He added with this at 2.4%, a six-month delay could cost £1.46m and a 12-month delay could cost £2.93m.

The proposal to build a 12,000-seat venue in the city centre, next to Temple Meads railway station, was "paused" last November when Mr Rees asked for the value-for-money review.

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

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