The Garden Bridge Trust has announced that the proposed footbridge between the South Bank and Temple “cannot be delivered” and the charity will be wound up.
In a statement this morning the trust blamed a lack of support from mayor of London Sadiq Khan for the failure of the project.
Lord Davies, chairman of the trust, said: “It is with great regret that trustees have concluded that without Mayoral support the the project cannot be delivered. We are incredibly sad that we have not been able to make the dream of the Garden Bridge a reality and that the mayor does not feel able to continue with the support he initially gave us.
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“We had made great progress obtaining planning permission, satisfying most of our planning conditions and we had raised £70 million of private money towards the project.
“The Garden Bridge would have been a unique place; a beautiful new green space in the heart of London, free to use and open to all, showcasing the best of British talent and innovation. It is all the more disappointing because the Trust was set up at the request of TfL, the organisation headed up by the mayor, to deliver the project.
“It is a sad day for London because it is sending out a message to the world that we can no longer deliver such exciting projects.”
In May, Khan announced he would not provide the financial guarantees needed for the project, dealing a killer blow to plans.
The controversial scheme has been criticised for years due to cost, ownership and public access.
A review of the project in April said £37.4m had been spent and it would cost taxpayers £46.4m even if it was cancelled.
Dame Margaret Hodge, who carried out the review into whether the bridge offered taxpayers value for money, recommended the project should be scrapped.
