Dunedin stadium construction $8m over budget - review

Dunedin Venues Management Ltd recorded a $1.9 million loss for the first six months of 2011. Photo / Supplied
Dunedin Venues Management Ltd recorded a $1.9 million loss for the first six months of 2011. Photo / Supplied

An independent review has revealed the construction of Dunedin's Forsyth Barr Stadium was more than $8 million over budget.

PricewaterhouseCoopers were asked conduct an independent review in February, they've found the stadium's capital cost had risen from $198 million to $206.4 million.

The cost blowout includes an extra million for the city council's share of the adjacent University Plaza, plus an extra $3.7 million for the catering fit-out.

Interest of $18 million puts the final cost at $224 million, with the $8.4 million overspend exceeding the budget by 4.2 percent.

The results come just days after it was revealed the Stadium posted a loss of $1.9 million in its first 6 months.

- Newstalk ZB

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW
Stats provided by

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production apcf05 at 29 Jun 2016 11:52:39 Processing Time: 918ms