Predicted cost of Hull Maritime project £20m more than expected
The predicted cost of the Hull Maritime project has been revealed in a Hull City Council briefing paper
The predicted cost of the Hull Maritime project has been revealed in a Hull City Council briefing paper. The paper shows the project is set to cost around £20m more than was initially approved in 2019.
The paper, which was presented to the council’s Economy and Environment Overview and Scrutiny Commission on February 12, says the total project cost is set to be £49,233,000. The paper also states that in 2019, the project was expected to cost £30,034,688.
The near £50m is jointly funded through Hull City Council capital commitment (£28,141,000), a grant from the National Lottery Heritage Fund (£18,599,000), and private donations (£2,493,000). The council’s expected funding level in 2019 was less than half of the current figure, with the paper saying the authority had initially budgeted for £14,031,000.
Despite the council’s expected increase in cost since 2019, the rise has not only landed at the council’s door. The briefing paper explains that after a request was made by the council, the National Lottery Heritage Fund increased its grant by around £5m to £18,599,000.
The near £50m figure does not include the funding for the Queen’s Gardens transformation which is funded separately to the Hull Maritime project. The current budget for Queen’s Gardens is around £21m.
The Hull Maritime project funds:
- Hull Maritime Museum & Dock Office Chambers
- Arctic Corsair
- North End Shipyard
- Spurn Lightship
Councillor Mike Ross, leader of Hull City Council, said: “Hull Maritime has grown into something far more ambitious than originally planned in 2018, from creating one of the most energy efficient cultural buildings in the UK to improving accessibility on board the Arctic Corsair with a new lift as well as safeguard the future of a treasured Grade II* listed building. This evolution reflects our commitment to creating a world-class maritime experience that celebrates Hull’s unique story and its people.
“Our rich heritage is a source of pride and opportunity, and this project will deliver lasting benefits for residents and visitors alike. We have a proud maritime history and tradition here in Hull.
“This ambitious project has transformed Hull’s maritime treasures and strengthened the city’s position as a leading cultural destination. Despite challenges, we are absolutely determined to deliver an exceptional plan for the people of Hull, which will last a lifetime.”
Despite the increase in cost, the council is confident the project will deliver great benefits for the city, with key aspects inlcuding the Maritime Museum and Spurn Lightship set to reopen this year. Already, the project has helped drawn eyes to Hull with it being a key motivator in National Geographic naming the city in the top 25 places to visit in the world for 2026.