The ambitious London Resort project has been abandoned after racking up massive debts and facing legal troubles, leaving many disappointed.
London: The London Resort was supposed to be a game-changer. It aimed to be the UK’s answer to Disneyland. But now, it’s all over. The project was planned for the Swanscombe Peninsula, a huge 372-acre site near Dartford.
It promised thrilling rides, water parks, and hotels. But things went south fast. The project faced planning issues and debts that soared past £100 million. It just couldn’t keep up.
Then, there was a big clash with Paramount. They were supposed to lend their name and some iconic movie themes. But when they pulled out, it was a major setback.
A spokesperson for the London Resort Company confirmed the project’s end. They said the courts had dealt the final blow. It’s a real shame for everyone involved.
Dr. Abdulla Al-Humaidi, the man behind the project, said it ruined his life. He even mentioned it left him bankrupt. That’s tough to hear, especially after all the hope.
Steve Norris, a former transport secretary, called the collapse a tragedy. He pointed out that despite millions invested, they couldn’t get the necessary planning permission.
Initially, everyone was excited about the London Resort. The CGI images looked amazing. But as time went on, excitement turned into doubt.
Things got worse when the site was marked as a Site of Special Scientific Interest. Environmentalists fought hard against the development, and it really hurt the project.
Even though it was recognized as a Nationally Significant Infrastructure Project, they needed a Development Consent Order to move forward. But just before the big presentation, they pulled their application.
Since then, the company has been struggling. They hinted at resubmitting plans but never followed through. If they go under, the project’s future looks bleak.
Recently, a High Court judge ordered the company to liquidate. This came after they failed to pay legal costs to several parties involved in the planning process.
LRCH tried to stay afloat with a Company Voluntary Arrangement, but Paramount rejected it. They claimed LRCH owed them around £14 million. The situation just kept getting worse.
Now, insiders say LRCH is out of money. Those owed cash might never see it again. Liquidation means they’ll try to sell off assets, but it won’t cover the debts.
The land for the London Resort was put up for sale last year. The owner is still negotiating, but it’s unclear what will happen next.
LRCH had paid millions for the option to buy the site, but that option expired last December. It’s a sad end to a once-promising dream.
