Attractions industry news
08 Oct 2012
£2bn Paramount resort planned for Kent
A consortium which includes US-based entertainment giant Paramount Pictures has unveiled plans to create a £2bn visitor attraction on the North Kent coast in the UK.
Plans for the 872-acre development site, on the Swanscombe Peninsula, include a Paramount-branded entertainment resort and leisure district as part of what is being billed as "Europe's leading entertainment destination".
The entertainment district will feature Europe's largest indoor water park, theatres, live music venues, attractions, cinemas, restaurants, event space and hotels.
Development vehicle London Resort Company Holdings (LRCH) has signed an agreement with Paramount Licensing, the licensing division for Paramount Pictures, to give exclusive UK licensing for a Paramount entertainment resort at the heart of the site.
The agreement does not include investment from Paramount Licensing in the project. LRCH is also in negotiations with a range of major British brands to sign licensing agreements.
The LRCH group of firms includes development and investment company Development Securities, the principal landowner Lafarge and super-scale construction company Brookfield Multiplex.
The team is also supported by a host of consultants and operators who will help deliver the scheme.
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're at the start of a long journey, but have been encouraged by the support and buy-in we have had to date.
"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 has already received initial support for the scheme from the Dartford and Gravesham Borough Councils.
• Paramount has previously announced plans to open its first European branded theme park in Alhama de Murcia Spain, as part of a EUR1.1bn (£950m, US$1.5bn) tourism project expected to open in spring 2015.
As with the Kent project, Paramount will not be investing in the project but will assist in the creation of the park, which is to feature more than 30 attractions and two themed hotels. To read more, click here.