The Brighton i360, a 531ft seafront observation tower that cost £46m to build, has filed for administration.

Brighton i360 Ltd owes £51m to Brighton & Hove City Council, which includes a £36.2m loan from the government’s Public Works Loan Board. Rising costs, unfavorable weather, and the cost-of-living crisis were cited by chair Julia Barfield as reasons for the decision. While the i360 will remain operational during this period, administrators will assess its viability and explore potential buyers. The council, however, will be left with a big hole in its budget – and a ‘we warned you message’ from many in the city’s amusements sector who were overlooked for commercial support in favour of the – 360. .

“This leaves a large unpaid amount to the city council, which will have an impact on the overall budget,” revealed deputy council leader Jacob Taylor.

Councillor Steve Davis of the Green Party – the party in power when the i360 was approved – attempted to find a positive in the project and share the blame for its failures.

“Alongside the i360 came a huge amount of regeneration for a long-neglected part of the city, the benefits of which are still being felt today,” he commented. “There is collective responsibility for both the positives and downsides to this investment in our city.”

But council leader Bella Sankey said her party, Labour, were “against it from the start”, calling out the Green Party for its failure. 

“I hope this is the beginning of the end of Brighton’s ill-fated experiment with the Green Party,” she said.