A re-opening date is still yet to be announced
The recent failure of Nottingham Castle has cost the city council at least £800,000 in terms of both lost income and fees to keep the building going. Nottingham City Council has not yet confirmed a reopening date for the Castle, which closed in November after the trust running it went into liquidation.
In a report on the council's budget monitoring for the third quarter of the 2022/23 financial year, the council is forecasting an overspend of £13.6 million altogether. The vast bulk of this predicted overspend is down to extra costs in the council's finance and resources department, as well as for the delivery of adult social care and children's services.But around £800,000 of the overspend is a direct result of the Nottingham Castle Trust collapse.
On top of that, the council says it faced £500,000 of costs in the third quarter due to inheriting the "premises holding costs" of the Castle, "pending a decision on future operations." Holding costs is used to refer to the outgoings incurred by a property's owner, such as utilities and insurance. The council also said it had outstanding unpaid invoices for services provided to the Trust, which came to £821,000. A Nottingham Castle Transition Board is currently examining the venue's future.
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