The Glasgow School of Art says it “cannot take forward” the restoration of its iconic Mackintosh Building on its own, estimating the bill to be equivalent to five times its annual turnover.
The specialist institution had previously committed to rebuilding the structure, which suffered major fires in 2014 and 2018. The cause of the second, which effectively destroyed the building, was found to be “undetermined”.
In an update released on 22 July, the school said the building is no longer integral to the institution’s operations and has proposed that it become part of a wider creative “district” in the city – a decision criticised by the likes of painter Lachlan Goudie, who called the situation a “national disgrace”.
Unveiled by world-renowned Scottish architect and designer Charles Rennie Mackintosh in 1909, the building’s repairs are expected to cost about £265 million, according to the art school.
It said it has gained “financial clarity” from a settled 2018 insurance claim and now believes that attempting to repair the building alone would “compromise the financial sustainability of the institution”.
