Insurance will pay for the Mack rebuild
TAXPAYERS will be saved from forking out the full cost of restoring Glasgow School of Art’s Mackintosh building after it emerged the building’s insurance should foot the bill for most of it.
The project’s main contractor Keir took out an insurance policy when it started reconstructing the building after the previous blaze four years ago.
Travelers Syndicate 5000, which underwrites insurance through Lloyd’s, confirmed it is the lead insurer on the construction, along with a number of others.
However, the company would not confirm the insurance value last night.
A Glasgow School of Art (GSA) spokesman said the cost of rebuilding would be covered by insurers.
While there could still be additional fundraising, the focus ‘remains firmly on making the building stable and allowing local residents and workers to return’, according to the GSA.
A spokesman added: ‘The shoring scaffolding on the east gable and south east corner of the building, which is a critical part of the work to make these areas safe, is less than a week away from completion.
‘After this, we hope very much that Glasgow City Council will reduce the size of the security cordon allowing people on Dalhousie Street and Sauchiehall Street to return to their homes and businesses.’
The building was overwhelmed by fire on June 15. Also damaged in the fire were the O2 ABC venue and Campus nightclub.
A number of local residents have raised concerns that their homes may have been damaged or broken into after they were ordered to leave.
Both the Scottish and UK Governments have offered to help to restore the building after the second fire.
A fire service investigation is under way to establish how the blaze began. However, questions have been raised regarding the lack of construction site sprinkler systems and whether flammable insulation panels were used.
Keir said it was unable to comment as the investigation is ongoing.
Glasgow North East MP Paul Sweeney said it was ‘reassuring’ that insurance would cover the bulk of the capital cost of the reconstruction.