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Paramount splits from £3.2bn Kent theme park project
POSTED 21 Jun 2017 . BY Tom Anstey
London Resort Company Holdings (LRCH) – the developer behind the Paramount theme park in Kent – has announced a surprise split from the film studio, which was to act as the masthead for the multi-billion-pound attraction.

The £3.2bn (US$4bn, €3.6bn) London Paramount project was being lined up as a major entertainment resort, with several rides and attractions based on Paramount IP such as Star Trek, The Godfather and Mission Impossible.

Those brands will no longer be used for the attraction, however, a LRCH spokesperson confirmed that the project would “still be going ahead” with its name changed to London Resort.

Attractions Management understands that LRCH is exploring new IPs to replace the Paramount brands – something that was previously a challenge with the overarching Paramount masthead.

It already has agreements with the BBC to use IP from Dr Who, Top Gear and Sherlock, as well as Aardman Animations, which most famously created Wallace and Gromit.

“We are in conversations with other IP holders,” a spokesperson told Attractions Management. “There will be major brands involved but not one overarching studio leading the way.

“It doesn’t really change anything. The branding is what will be shifting. The team, the consultants, the plans and the surveys are still working. It’s all on track from that side of things.”

An attractions industry analyst suggested that the project was “over ambitious”, and that projects of such scale are in general difficult to get off the ground in the European marketplace.

But they added there was still hope for the project, which free of the Paramount brand could reevaluate its ambition and scope going into the next consulting stage, which is expected to take place over the summer.

LRCH’s parent company, Kuwaiti European Holding Group (KEH), has invested £35m (US$44m, €39.6m) into the project so far. The opening date – currently scheduled for 2022 – has been pushed back three times, with delays in securing land necessary to deliver the development.

Infrastructure issues also mean that there are further complexities in terms of public transport, which has had to be addressed. LRCH estimates that the project will generate 27,000 jobs for the area.

Commenting on the split, new CEO Humphrey Percy expressed his thanks to Paramount and added that LRCH was working closely with the local authorities, landowners and local community prior to submitting its Development Consent Order later this year.

“We are creating a unique entertainment destination offering a scale and quality unprecedented in the UK where much loved characters and stories will be brought to life from iconic movies, television, books, electronic gaming and toys,” he added.
PROJECT PROFILE:

London Paramount Resort
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".

Location: United Kingdom
Budget: £2bn (US$3.2bn)

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Jobs . News . Products . Magazine
NEWS
Paramount splits from £3.2bn Kent theme park project
POSTED 21 Jun 2017 . BY Tom Anstey
London Resort Company Holdings (LRCH) – the developer behind the Paramount theme park in Kent – has announced a surprise split from the film studio, which was to act as the masthead for the multi-billion-pound attraction.

The £3.2bn (US$4bn, €3.6bn) London Paramount project was being lined up as a major entertainment resort, with several rides and attractions based on Paramount IP such as Star Trek, The Godfather and Mission Impossible.

Those brands will no longer be used for the attraction, however, a LRCH spokesperson confirmed that the project would “still be going ahead” with its name changed to London Resort.

Attractions Management understands that LRCH is exploring new IPs to replace the Paramount brands – something that was previously a challenge with the overarching Paramount masthead.

It already has agreements with the BBC to use IP from Dr Who, Top Gear and Sherlock, as well as Aardman Animations, which most famously created Wallace and Gromit.

“We are in conversations with other IP holders,” a spokesperson told Attractions Management. “There will be major brands involved but not one overarching studio leading the way.

“It doesn’t really change anything. The branding is what will be shifting. The team, the consultants, the plans and the surveys are still working. It’s all on track from that side of things.”

An attractions industry analyst suggested that the project was “over ambitious”, and that projects of such scale are in general difficult to get off the ground in the European marketplace.

But they added there was still hope for the project, which free of the Paramount brand could reevaluate its ambition and scope going into the next consulting stage, which is expected to take place over the summer.

LRCH’s parent company, Kuwaiti European Holding Group (KEH), has invested £35m (US$44m, €39.6m) into the project so far. The opening date – currently scheduled for 2022 – has been pushed back three times, with delays in securing land necessary to deliver the development.

Infrastructure issues also mean that there are further complexities in terms of public transport, which has had to be addressed. LRCH estimates that the project will generate 27,000 jobs for the area.

Commenting on the split, new CEO Humphrey Percy expressed his thanks to Paramount and added that LRCH was working closely with the local authorities, landowners and local community prior to submitting its Development Consent Order later this year.

“We are creating a unique entertainment destination offering a scale and quality unprecedented in the UK where much loved characters and stories will be brought to life from iconic movies, television, books, electronic gaming and toys,” he added.
PROJECT PROFILE:

London Paramount Resort
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".

Location: United Kingdom
Budget: £2bn (US$3.2bn)

RELATED STORIES
Plans for Paramount theme park in Spain fall through after project is deemed illegal by courts


Long-touted plans for a Paramount theme park in Spain appear to have finally collapsed after the High Court of Murcia ruled the project to be illegal.
Senior shake up drives London Paramount project forward with new appointments


London Resort Company Holdings (LRCH) has shaken up its leadership team by announcing the appointments of Humphrey Percy as its new CEO, also naming Mike Morrison and Kevin Doyle in senior roles.
Director Dunphy quits London Paramount project


One of London Paramount’s prominent figureheads has walked away from the project, just two months after the developer made a public assurance that the theme park was on track.
London Paramount making 'good progress' despite setbacks, says developers


London Resort Company Holdings (LRCH) – the company behind the £2bn (US$3bn, €2.8bn) Paramount London theme park and resort development in Kent – has announced the project is on-track despite a year-long delay in planning submission.
MORE NEWS
Two Trees, James Corner Field and Shop Architects team up on Williamsburg waterfront park
New York-based developer Two Trees Management has opened a disused sugar factory redevelopment in Williamsburg, Brooklyn, turning the site into a waterfront park.
Attendance soars for Dubai Parks and Resorts as DXB reports half year visitor figures
Things are looking up for DXB Entertainments, after the operator reported more than 1.4 million visitors to Dubai Parks and Resorts in the first half 2018 – an increase of more than 46 per cent year-on-year.
British space tourism one small step closer as Scotland confirmed to host UK's first spaceport
The Scottish Highlands are set to become the hub for British space travel, a sector which could be worth an estimated £3.8bn (US$5bn, €4.3bn) to the UK's economy.
Nairobi’s The Beacon set to be Alsop’s only African foray
Planning permission has been granted to architect All Design for one of the late Will Alsop’s final creations before his untimely passing in May 2018, which will be a gregarious shopping centre and office development in Nairobi, Kenya.
+ More news   
LATEST JOBS
Forest Centre Operations Manager
Forestry Commission
Salary: £29,695 - £32,811
Job location: Thetford, UK
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Kansas City, Missouri, USA
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Melbourne VIC, Australia
Facilities Technician
Legoland
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Job location: Winter Haven, Florida, USA
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ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

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