‘Dartford Disneyland’ calls in administrators after Kent theme park plan collapses

Thames estuary site, London Resort being developed by London Resort Company Holdings ( PY Gerbeau is the chief executive), , handout from , Daniel Cohen , , ..... Up close and personal with dinosaurs.jpg - Daniel Cohen

Developers behind a planned £2.5bn Kent theme park to rival Disneyland have called in administrators after running up £100m in debt.

The London Resort Company has appointed Antony Batty & Company to restructure its finances.

The company was formed 12 years ago to build a world class resort near Dartford that at one point had the backing of Hollywood studios Paramount.

Developers planned to build roller coasters inspired by The Godfather and Mission Impossible across a 1,245 acre site that was more than double the size of Britain’s largest theme park, Alton Towers.

Paramount London, as it was initially called, was originally scheduled to open by 2018.

The park promised to bring 27,000 jobs to the area and attract up to 15m visitors a year.

However, the project, planned to stretch from Dartford to Gravesend, is near collapse after facing repeated delays as a result of environmental concerns and local opposition.

The London Resort Company dropped its planning application 12 months ago after the site was named a Site of Special Scientific Interest because a rare spider was found. The company promised to submit new plans taking into account the habitat this year.

Administrators have now been called in to oversee a Company Voluntary Arrangement (CVA), a process by which insolvent companies can renegotiate their debts.

The London Resort gives first look at “next generation” theme park One of the most sustainable, world-class destinations also reveals ‘six lands’ London, 5th December 2019 - The London Resort has revealed new, concept artwork, for the six lands that will be created as the first phase of the 535-acre site, the equivalent of 136 Wembley Stadiums. The visuals are the first to be revealed since The London Resort announced its partnerships with the BBC, ITV Studios and, most recently, Paramount Pictures. It follows hot on the heels of a partnership announcement with EDF Energy that aims to make The London Resort the most sustainable, major theme park destination in the world. In what is believed to be a first for the global tourism industry, the deal will see The London Resort pursue a Net Zero emissions goal. Four visuals have been released, hinting at the “next generation” rides and unique experiences people can expect when the park opens in 2024. “We are creating a first-class theme park. A destination that maximises all the new, immersive and interactive technologies and experiences in the world,” said PY Gerbeau, Chief Executive of London Resort Company Holdings (LRCH). “But we won’t just be creating a world class leisure destination, it will also be one of the most sustainable theme parks on the planet.” “We have three guidelines we work to when it comes to developing attractions,” continues Gerbeau. “Number one is innovation. We’re not here to copy what’s been done before even if it has been successful. Number two is relevance. We need to consider that the customers of today will not be the customers of 2024. And the third is flexibility. We need to create a park that can evolve and adapt easily.”

A spokesman for The London Resort Company Holdings (LRCH) said: “LRCH have taken the logical and sensible step of launching the CVA proposal. We’ve spoken to many of our creditors who are very happy to support the initiative which would see their debts converted into shares.

“Many millions have been invested into the Swanscombe Peninsula over the last decade and there remains a fantastic opportunity to bring forward exciting proposals.”

Initial plans for the site included rides inspired by Paramount films as well as BBC programmes Doctor Who and Top Gear, and ITV’s Thunderbirds. Developers planned to install some of the fastest rides in Europe, an indoor water park, theatres and a sports arena.

However, the agreement with Paramount broke down in 2017 and both the BBC and ITV withdrew last year following local opposition to the project.

Plans for a “Dartford Disneyland” were designated a nationally significant infrastructure project (NSIP) in 2014, a status normally reserved for power plants, bridges and major road schemes.

This status gives developers permission to bypass local planning regulations and seek consent directly from the Secretary of State. But to win approval, theme park bosses must first prove the bid's feasibility to the government's independent planning arm, The Planning Inspectorate.

Local officials are supportive of the London Resort, which they say will bring employment to “an area that desperately needs jobs”.