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Magna Science Adventure Park Gets £150,000 Council Loan

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http://www.bbc.co.uk/news/uk-england-south-yorkshire-11398479

One of South Yorkshire's top tourist attractions has been given a £150,000 council loan to keep it out of the red.

Rotherham council said Magna Science Adventure Park at Templeborough has been loaned money at a commercial rate of interest for 12 months.

The attraction, which opened in April 2001, cost more than £40m, half of which came from lottery funding.

It is run by Magna Trust, a registered charity whose constitution does not allow it to go overdrawn.

Rotherham Council previously agreed a £200,000 loan to Magna last September and said that would be repaid at the end of this month.

The new loan, together with interest, is to be repaid by September 2011.

So last year it had a £200k loan, this year it gets a £150k loan. Isn't the council just paying itself back here more or less?

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So if it's "a top tourist attraction" why does it continually need to have the begging bowl out.

It originally cost £40 million. There must have been something more worthwhile and beneficial they could have spent that amount of money on rather than a begging bowl centre.

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So if it's "a top tourist attraction" why does it continually need to have the begging bowl out.

It originally cost £40 million. There must have been something more worthwhile and beneficial they could have spent that amount of money on rather than a begging bowl centre.

costs too high...demand too small.

but, as usual, with government handout...Managers salaries can remain unchecked.

a small business would stop paying the salaries. cut costs..make it work...or die.

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So if it's "a top tourist attraction" why does it continually need to have the begging bowl out.

Because it's a "South Yorkshire top tourist attraction".

How many tourists go to SY?

tim

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Well at least they have paid back the 200k and only borrowing 150k this time.

In a few years they should be clear.

Maybe they have been re-using tea bags and making their own yogurt,

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If you want to know about loans for tourist attractions look up the Welsh National Gardens.

Edit:

They don't loan the money - they give the money to it.

Edited by The Masked Tulip

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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