Fareham's multi-storey carpark set to be demolished in November with cost of replacement increasing by more than £500,000

The council’s executive committee will determine adjustments to the original surface-level car park which was approved in May to replace dated multi-storey facility in Osborne Road. Rising construction costs over the past 18 months have impacted the project’s initial budget, which has risen to £2.5m from £1.96m.

Council documents state the revisions to the original scheme are necessary ‘notably in the relation to drainage and highways’.

“Electric vehicle charging provision is to be included with the scheme, but the opportunity to install solar photovoltaic canopies has been reviewed but discounted at this time.

“One key omission is the solar PV canopies with associated CCTV and battery storage. With the key reason being their high initial cost and longer than projected pay-back period.

“Development of the scheme has included improved drainage which wasn’t originally included, in addition to extra highway requirements.

“The revised scheme will provide an estimated 129 standard car parking spaces including a number with electric vehicle (EV) charging facilities. In addition, seven accessible car parking spaces will be provided.”

The costs for demolishing the Osborn Road Multi-Storey and establishing the smaller surface car park will be covered by future Community Infrastructure Levy (CIL) receipts. Borrowing may be used to bridge the financial gap, with loan interest serviced using coastal car parking revenues. It is anticipated that it will take approximately three to four years to accumulate enough CIL receipts to offset the costs.

The car park’s closure for demolition, originally set for October 2023, may experience a ‘short delay’ until November 2023 due to budget approval. As a result, the new car park is expected to be operational in Spring 2024, due to most of the work occurring during the winter months.