Case Study 3: i360 Brighton – Funding Civic Scale and Quality Experiences
British Airways i360 in Brighton opened in August 2016. It is the world’s tallest moving observation tower, world’s first vertical cable car and holds the Guinness World Record as the world’s most slender tower. As well as a visitor attraction, the venue includes conference and hospitality rooms, and a publicably accessible brasserie, café and shop. The BA i360 has been funded through a unique Public-Private Partnership with Brighton and Hove City Council and the Coast to Capital Local Enterprise Partnership. The Council has loaned the i360 £36 million, which it has borrowed from the government’s Public Works Loan Board. The Council will earn over £1 million per annum in profits on the loan. This funding mechanism can now be used by Councils for projects with a ‘commercial return’ that can afford to repay the loan.