Ipswich Museum redevelopment to cost £2.7m over budget

The redevelopment at Ipswich Museum is set to go more than £2million over budget due to unexpected costs.

As a result of the additional costs, ongoing high price levels and inflation, the price of the redevelopment to the museum are now forecast to be £2.7m higher than originally thought.

This brings the total predicted cost to £11.4m.

The redevelopment of the museum, which opened in its current location in High Street in 1881, was initially expected to cost £8.7m.

The museum closed in October 2022 for the two-year development, which aims to create an immersive and education experience for visitors.

The project is to cost more than predicted due to unexpected costs and rising costs (Image: Charlotte Bond)

The delivery phase of the project has progressed in accordance with timelines in the programme.

However, due to the forecasted higher cost of the project, the executive committee at Ipswich Borough Council is to come together to discuss cost-saving options that have been proposed.

These include submitting an application to the National Lottery Heritage Fund for an additional £1.3m – 50% of the additional funds required.

Subject to receiving the grant, capital funding from the council for the other 50% is expected to cover the cost of the project.

It is recommended that the executive approves these plans, along with the overall cost of the project increasing, in order to facilitate effective budget planning.

Councillor Carole Jones at Ipswich Museum (Image: Charlotte Bond)

Carole Jones, Ipswich Borough Council portfolio holder for planning and museums, said: "As we navigate through these challenging financial times, several factors have contributed to the escalation of costs.

"Supply chain disruption, inflation, and market volatility are all presenting challenges to our original budget forecast.

"Ipswich Museum is a much-loved heritage site, which has brought joy to so many over its long history.

"Despite the financial challenges local government is facing we remain committed to delivering this high-quality project, and we will actively seek strategies to mitigate cost increases where possible."

Inside the museum before its closure (Image: Newsquest)