Humphrey Percy, CEO, LRCH, said:

“We want to express our sincere thanks to the many members of the Paramount team who have worked with us since we took over the Project in August 2013. This announcement does not have an effect on the timing of our planned Development Consent Order (DCO) submission in November 2017. We are working closely with the local authorities, landowners and local community, as well as our other stakeholders, and we very much look forward to showing our plans to the public as part of our final stage of consultation prior to submitting later this year.”

“We are creating a unique entertainment destination offering a scale and quality unprecedented in the UK where much loved characters and stories will be brought to life from iconic movies, television, books, electronic gaming and toys. Just 17 minutes from Central London, one of the most visited cities in the world and with an investment of £3.2 billion, the resort will be a global tourist destination.”

In line with the agreement between LRCH and Paramount Licensing Inc., the terms are confidential.

The development scheme at the Swanscombe Peninsula will be in direct competition with major UK theme parks, with an estimated 50 rides and attractions based on many popular brands from film and television.

The project would include not only a theme park but several hotels and Europe's largest indoor waterpark. It is expected to attract on average 40,000 visitors per day and create around 33,000 jobs.

Potential themed lands at the theme park were to include Adventure Isle, Land of Legends, Cartoon Circus, Starfleet Command, Action Square, Port Paramount and Entertainment City, so some of these will no longer be possible.

The agreement with Paramount Pictures, the oldest major Hollywood movie studio, would have allowed the Resort access to a library of films including iconic movies such as Mission: Impossible, Star Trek, The Godfather and The Italian Job.

In the last few years BBC Worldwide, Aardman Animations and the British Film Institute have all signed agreements with the London Resort with intention to explore the right mix of British television, film and talent to entertain visitors.

The arrangement with the BBC means some of the best loved and celebrated programmes and characters to appear on British TV in recent decades could be brought to life at a world-class entertainment destination.

Aardman is one of the UK’s leading animation studios, having produced a number of award winning feature films and TV series including Wallace and Gromit and Shaun the Sheep.

The British Film Institute will be the key cultural adviser to the project, providing strategic input on how British films and talent can be best incorporated into the Entertainment Resort.