Abandoned scheme swallowed up more than 拢50m of cash in total

Garden bridge view d credit arup

Transport for London has confirmed the final cost of Thomas Heatherwick鈥檚 controversial Garden Bridge project topped 拢50m.

TfL, which has now published a detailed breakdown of the final expenditure of the Garden Bridge Trust, the charity in charge of the project, revealed that it swallowed up 拢53.5m of cash before being pulled 18 months ago.

Around 拢43m of this was public money with 拢24m coming from TfL and the remainder fom the Department for Transport.

In July 2015, Boris Johnson, then London鈥檚 mayor and one of the key backers of the scheme, said up to 拢60m of public funding would be made available to the trust, with TfL and the DfT each provding  拢30m. Around 拢37m of this funding was paid to the trust in a series of payments tied to specific funding conditions.

The bridge had been due to be built by a team featuring French contractor Bouygues and Italian steelwork firm Cimolai after the pair beat rival bids from Bam Nuttall and Spanish contractor Dragados. Arup was the scheme鈥檚 engineer and was supposed to have opened last summer.

But it faced fierce opposition with a number of high-profile opponents 鈥 including St Paul鈥檚 Cathedral 鈥 objecting to the 拢175m bridge claiming it was nothing more than a vanity project in the wrong part of London.

TfL said the final cost included a 拢5.5m payment to the trust, which will come from DfT funding. The cost of winding up the trust is expected to cost up to 拢500,000. The trust has until June to request additional funding from this 拢500,000 contingency fund.

The report added there was no 鈥渞easonable prospect鈥 of TfL or DfT being able to recover past payments made to the trust.

What the public coughed up with nothing to show

 TFL    
  Services in kind, covered under the funding agreement (primarily on securing planning permission, legal fees and TfL internal staff costs) prior to the Trust taking control of the project in November 2015. &苍产蝉辫;拢10.67尘
  Grant payments as per schedule in the funding agreement &苍产蝉辫;拢13.25尘
  TOTAL  拢23.92尘
 DfT    
  Grant payments as per schedule in the funding agreement &苍产蝉辫;拢13.45尘
  Underwriting agreement (Agreed payment) &苍产蝉辫;拢5尘
  Underwriting agreement (Contingency) &苍产蝉辫;拢0.49尘
   TOTAL  拢18.94尘