Platinum Business Magazine Issue 9

Page 40

REACH FOR THE SKY Brighton’s seafront will never be the same again. This year the i360 will start to rise up above the West Pier and dominate the skyline. Opening next year, it could become the most iconic landmark in the South East. How has it been financed and how will it make a profit? Eleanor Harris, Chief Executive of Brighton i360, explains all to Ian Trevett

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he proposal to build the i360 tower has not been without controversy. It came in for a fair bit of local criticism, with many fearing it would be a white elephant, wasting hardearned public money. Not only was the soaring viewing platform placed on the site of the muchloved West Pier, it was also regarded as a folly of the Council, who showed little regard for the burden placed on the city’s council tax payers. During this time, the team behind i360 kept a low profile, verging on silence, which gave rise to many people jumping to false conclusions. How could an ascending viewing platform possibly raise enough money to repay the immense building costs? The answer was that it was never expected to.

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The business plan was to generate the income from a wide variety of sources, not just the viewing platform. These included the brasserie, hospitality rooms, exhibition space, gift shop and bars, as well as the actual rides on the tower. And no council money was being spent. So why was there such controversy surrounding a development which will become an icon for an ambitious global destination? “We had to go through a democratic process with the councillors and give them time to understand the business plan without being influenced by the media,” explains Eleanor. “We had to go through the legal due diligence, and during that phase, we were asked not to go out making public statements.


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