Lafarge Tarmac sign agreement with LRCH
Company agrees land deal for London Paramount Entertainment Resort in north Kent
LAFARGE Tarmac have signed a binding option agreement with London Resort Company Holdings (LRCH) to sell land required for the delivery of the proposed London Paramount Entertainment Resort, in North Kent.
The land, known as Swanscombe Peninsula, covers 388 acres and was formerly the largest cement plant in the UK, Swanscombe Works, which closed in 1993.
The agreement will bring the proposed £2 billion entertainment resort one step closer to being completed. This follows on from the May 2014 announcement by the Secretary of State for Communities and Local Government to designate the project as ‘Nationally Significant’.
Cyrille Ragoucy, chief executive officer of Lafarge Tarmac said: ‘We take a long-term view of our landholdings from mineral extraction to development and restoration; creating jobs, supporting communities and continuing responsible environmental stewardship.
‘We are proud to be part of this exciting project. This is a fitting legacy for land which has been owned by Lafarge Tarmac for more than 140 years.’
David Testa, executive director of LRCH, said: ‘With this agreement in place, the vision for north Kent as the home of a nationally significant, multi-billion pound entertainment resort employing thousands of people is moving closer to becoming a reality.
‘It further underlies our commitment to delivering the project and is welcome news as we continue to consult and engage with the local Dartford and Gravesham communities living near the site, and more widely with our interested parties.’
Two stages of public consultation have been held by LRCH to date, involving more than 4,000 members of the Kent community. Two further stages of consultation are planned to help inform the emerging plans for the resort, prior to the submission of a draft Development Consent Order to the Planning Inspectorate in autumn 2015.
The overarching vision of the companies behind the project – British company London Resort Company Holdings (LRCH) and their funders Kuwaiti European Holding Co (KEH) – is to create a world-class global entertainment destination located just outside London.
Once complete, the resort will include: a world-class studio theme park; the largest indoor water park in Europe; creative business space to provide a central hub for the UK creative industry; a 2,000-seat theatre with regular ‘West End’ quality shows; indoor event space to host conference, musical and sporting events; and a range of hotels with a combined total of 5,000 on-site bedrooms.
