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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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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.
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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.
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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.
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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
Blackstone acquires live events specialist NEC Group
Private equity giant Blackstone has acquired UK-based live events venue operator National Exhibition Centre Group from LDC, the private equity arm of Lloyds Banking Group.
Norwich Castle Museum obtains HLF £9.2m funding
The historic Keep at Norwich Castle in Norfolk, England is to be restored to resemble its Norman heyday following the injection of £9.2m (US$12m, €10.5m) financing from UK grants body the Heritage Lottery Fund (HLF).
New “Hilltop Gallery” in China’s Yanshan mountains completes construction
Construction has recently completed on the 2,600 sq m Hilltop Gallery – also known as the Phoenix Valley Summit Art Centre – in China's Hebei province.
Stockholm’s Nationalmuseum reopens following refurbishment
Larger exhibition areas across three floors will showcase more than 5,000 artworks including paintings, sculpture, and photography at the reopened Nationalmuseum in Stockholm, Sweden following a revamp.
+ More news   
LATEST JOBS
Public Relations Representative
Legoland
Salary: Competitive rate of pay
Job location: California, USA
Director of Operations
Legoland
Salary: Competitive
Job location: California, USA
Head of RHS Garden Bridgewater
Royal Horticultural Society
Salary: circa £65,000 depending on experience
Job location: Greater Manchester, UK
Global Marketing Executive
Merlin Entertainments Group
Salary: Competitive
Job location: London, UK
Operations Manager
Legoland
Salary: Competitive
Job location: Columbus, OH, USA
Aquarium Commercial Supervisor
Sea Life
Salary: Competitive
Job location: Carlsbad, CA, USA
+ More jobs  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2018

ABOUT LEISURE MEDIA
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