Paramount planning application delayed raising doubts over opening date

By   April 2, 2016

The developer of a Paramount resort in Kent has once again delayed the submission of a planning application for the £3.2 billion attraction, raising doubts over its 2021 opening date. The scheme, which developers say will create 27,000 jobs, has already delayed its planned opening date twice, and the latest setback is set to move its timetable back another year.

Steven Norris, chairman of London Resort Company Holdings (LRCH), the company behind the project, told Property Week the plans would not now be submitted until the second quarter of 2017. He said:

“Very straightforwardly, we do regular appraisals to make sure that when we’re entering pretty new territory, which is what London Paramount is, we’ve got everything right. And as a result of that, we’ve adjusted our plan.”

However, Mr Norris, a former transport minister and ex-London mayoral candidate, apparently stressed the latest hold-up did not necessarily mean the opening would be delayed again. He said:

“We would be relaxed about it if it did extend slightly because with a project like this, it is a one of a kind. There are no comparables like there would be with an office or residential development.”

London Paramount entertainment resort is being financed by Kuwaiti European Holdings, owned by the Al-Humaidi family.

Cross-post from Kent Online.

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