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The news has hit the headlines in the British media, a consortium of leading UK and international companies grouped under London Resort Company Holdings (LRCH) announced that they have signed an agreement with Paramount Licensing, a division of Hollywood-based Paramount Pictures, for the development of an entertainment destination in the county of Kent, a few kilometers east of the capital London.
Expected in 2018 on a brownfield site of 353 hectares / 872 acres located in the town of Swanscombe on the banks of River Thames, this project includes the construction of a theme park, an indoor water park, an entertainment center with theatres, live music venues, attractions, cinemas, restaurants, an event space and several hotels. Almost 27,000 jobs might be created over time.
The consortium's goal is to make this resort one of the best entertainment destinations in Europe that could even compete directly with Disneyland Paris, currently the top European destination with over 15 million visitors each year. To do so, the investment will be significant: 2 billion British Pounds, or about €2.5 billion / $3.2 billion.
According to an independent feasibility study, the future Paramount destination could have a significant economic impact on the entire region, the site being located about twenty minutes from Central London via public transport and a few hours by train of several European capitals - including Paris and Brussels - thanks to the Ebbsfleet International station which is part of the Eurostar high-speed railway network.
Tony Sefton, project leader for LRCH, said: “Our vision is to create a world class entertainment destination, the first of its kind in the UK. We are at the start of a long journey, but have been encouraged by the support and buy-in we have had to date. We are particularly pleased with the appetite we are seeing from investors, who consider this a compelling investment proposition.”
He continued: “Post Olympics, this is Britain’s next major regeneration opportunity. Over the next 12-18 months we will be progressing the planning application, while embarking on a wide-reaching programme of community consultation, while securing further commercial agreements with third parties. Our timetable for delivery, including the planning application process and construction timetable, is geared towards completion and opening in 2018.”
LRCH have been working closely with both Dartford and Gravesham Borough Councils. In a joint statement, they gave their support to the project: “This development represents a tremendous economic growth opportunity for the region. We have been impressed by LRCH’s commitment to integrating the development with the local community, recognising the many economic and social benefits it promises to deliver.”
After dropping out of the business of amusement parks in 2006, Paramount seems once again to be interested in this industry with the signing of several licensing agreements for different kinds of projects around the world. Examples include another Paramount theme park being developed in Spain in the Murcia region (which is in no way related to British project) or the Star Trek Experience developed by Rubicon Group Holding for the future resort of The Red Sea Astrium in Aqaba, Jordan.
All these agreements do not include investment from Paramount Licensing Inc in the projects.
The NewsParcs' Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world. This weekly report covers topics such as corporate announcements, ...
NewsParcs' Theme Park Industry News Roundup is a summary of the latest major news related to the theme park industry worldwide. Unlike our "Theme Park Supplier's News of the Week" category of articles that we publish each...
NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.
