Factory costs escalate as Covid delays opening date

The opening of Manchester's flaghsip new arts venue, The Factory, has been further delayed due to the Covid crisis and it is now not expected to open until the end of 2022, more than three years late. Due to escalating costs – two-thirds more than originally budgeted – Manchester City Council is considering a loan of up to £45m as 'bridge' funding, which could take its total contribution to the project anywhere up to £96m. The city's original financial support for the project was set at £22m, but as unbudgeted costs arose, it made further contributions of £19m in 2018 and a further £10m this summer.