London's Garden Bridge's Own Backers Warn it Might be an Expensive Flop

By Gary Cutlack on at

The group that fancies its chances of building that posh new semi-private bridge across the Thames has published its first set of accounts, and they come with quite a severe warning about the status of the project. Including the really quite obvious fact that the cost of building it could "substantially exceed" initial expectations. You don't say.

The Garden Bridge Trust accounts are introduced by Mervyn Davies, chair of the trustees, who warned: "Due to the material uncertainties in existence ahead of finalising these accounts, trustees are unable to conclude that the trust is a going concern, and feel it only appropriate to flag these risks in this report."

Problems potential investors need to think about before committing their money to the Lumley dream include the build cost exceeding expectations, the final planning permissions for the south side that are still outstanding, future maintenance agreement hassles, plus the general need we all suffer that is not having enough money to do it yet.

Davies goes on to warn that: "...a number of these matters are outside the control of the trustees they recognise that if this is not possible they will need to consider the future of the project, and in a worse-case scenario, whether the project remains viable." [Guardian]


Want more updates from Gizmodo UK? Make sure to check out our @GizmodoUK Twitter feed, and our Facebook page.