The restoration of parliament is likely to cost more than £3billion and could see MPs and peers move out of the aging building for five years
An independent report carried out by HOK, Aecom and Deloitte, which has weighed up the cost of three options for the repair works that are needed on the Palace of Westminster, has been now been completed.
The three options
- Option 1 – continuing repairs and replacement of the fabric and systems of the Palace over an indefinite period of time
- Option 2 – a defined, rolling programme of more substantial repairs and replacement over a long period, working around continued use of the Palace
- Option 3 – moving parliamentary activities elsewhere while work is carried out over a more concentrated period of time
The £2million feasibility study has assessed the costs, benefits, risks and feasibility of the three options.
The results of the report are not due to be published until summer 2015, and the decision on the preferred option not expected until spring 2016.
However, according to BBC Newsnight, the cost of the restoration, which was initially thought to be around £1.6billion, could rise to £3billion.
Richard Ware, the director of the restoration and renewal project, which was set up in October 2012 to produce an independent assessment of the cost of the work needed, would not confirm whether the BBC’s figures were correct.
A spokesperson for the restoration and renewal project was unable to say how much the restoration could cost and how long. But she added: ‘We do know the cost of the backlog of repairs alone is estimated at more than £1.2 billion so it would be safe to assume that the overall cost of the R&R Programme will be greater than this.’
It is also understood that independent quango, similar to the Olympic Delivery Authority, would be set up to manage the project.
The building, which has been home to the House of Lords since 1847 and the Commons since 1852 has had no major restoration since it was built and currently has an annual repair bill in excess of £30 million.
Work is not expected to start on the project until after 2020.