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Council’s Castle Quay move £646k over budget
04/11/2024
The cost of the relocation is set to hit £5.146m
The cost of Cherwell District Council’s office move from Bodicote House to Castle Quay is predicted to go over budget by an estimated £646,000.
£4.5m had been allocated for the project, but a Capital Expenditure report for the Council’s Executive indicates that £5.146m will now be needed for the office relocation.
The accompanying narrative says: “It has been estimated that the cost of the project will exceed the budget by £0.646m primarily due to the value of engineered works being higher than budgeted.”
The cost of the move from the council’s current office in Bodicote to the shopping centre is due to be covered from the proceeds of the sale of Bodicote House. The value and sale price have not been made publicly available and are noted as “commercially sensitive information”.
The relocation project was first announced in August 2023 when a Conservative administration ran Cherwell District Council. A report to Councillors at the time said that substantial work was needed at Bodicote House, should the council decide to remain there. The business case also highlighted the large amount of vacant space within Castle Quay centre, which the council owns.
It was felt the move would create a smaller, more modern and energy-efficient space and support the council’s wider ambition to regenerate the town centre and increase footfall to local businesses.
The relocation project is supported by other political groups, but Progressive Oxfordshire (comprising Liberal, Green and Independent councillors) have previously questioned the transparency of the project. Since May they have taken charge of the council and will tonight discuss the predicted budget overspend.
Published: by Banbury FM Newsteam