The project budget for OMA’s Manchester arts venue The Factory has risen to £130m, with the city council set to find an additional £19m to get the project off the ground, it has emerged.

Original proposals from Rem Koolhaas’ practice included a 2,300 standing-capacity theatre and a separate 5,000-capacity warehouse space for “immersive” events on part of the former Granada TV studios site.

Although the £110m scheme cleared planning in January last year, a revised design for the venue, named in honour of the city’s legendary Factory Records label – home to Joy Division/New Order, Happy Mondays and others, was subsequently approved with reduced theatre capacity.

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