New entertainment destination unveiled for UK's South East

Plans to develop a new £2 bn (EUR 2.47 bn) world class entertainment destination on the Swanscombe Peninsula, North Kent, have been unveiled by a consortium of leading UK and international companies. The new development will transform the 872 acre brownfield site into one of the largest regeneration projects in Europe.

Development vehicle London Resort Company Holdings [LRCH] has signed an agreement with Paramount Licensing, the licensing division for Hollywood-based Paramount Pictures, to give exclusive UK licensing for a Paramount entertainment resort at the heart of the site. LRCH is also in negotiations with a range of major British brands to sign licensing agreements.

The development team includes development and investment company Development Securities plc, principal land owner Lafarge and super scale construction company Brookfield Multiplex.

The site is on the doorstep of the Eurostar's Ebbsfleet International station, a 17-minute journey time into London and a two hour journey to Paris. The project is expected to create up to 27,000 jobs and integrate the development into the local communities of Dartford and Gravesham.

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.'

LRCH has been working closely with both Dartford and Gravesham Borough Councils. In a joint statement, Jeremy Kite, Leader of Dartford Borough Council and John Burden, Leader of Gravesham Borough Council, said: '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.'