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Lightwater Valley

Well it either needed to be sold or it was going to go under, so glad it's the former. It'll be interesting to see what route they go down. Based on what Brighton Pier Group have said currently, they're fully aware they have a mass of space to play with and have also mentioned the staycation market, so expansion is certainly on the cards at some point.

However, I don't think this is an immediate positive. It should be noted that it wasn't so long ago that Heritage GB were also looking at expansion with the addition of holiday lodges at the park, but planning troubles put an end to that. Brighton Pier Group will no doubt have similar hurdles to jump, but with a park that's currently in a substantially worse way than it was back then, it's not going to be an easy or quick fix.
 
They are certainly brave taking on the park in its current state and also in the times we are living in.

To say it needs investment doesn't even scratch the surface. It needs a brand new park building almost to make it a worthwhile visit for me. Its a beautiful setting but the rides are all terribly dated.

Definitely better than losing another park but I can't imagine this will even be enough to save them unless they invest for next year.
 
It’s worth noting that prior to COVID, the park apparently made a £600,000 operating profit in the last financial year, so it isn’t a lost cause by any means.

I personally think this is a really positive step for LWV’s future. Brighton Pier Group have signalled that they intend to expand the park and develop it, which is promising. I’m not necessarily expecting an immediate turnaround, but if they can get The Ultimate back open soon and begin to install some new ride hardware, then I think that should place them on the road to success!
 
Matt N said:
It’s worth noting that prior to COVID, the park apparently made a £600,000 operating profit, so it isn’t a lost cause by any means.
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Whilst the operating profit is good on the face of it on their last accounts prior to Covid in Feb 2019, looking deeper between that and the previous year, there are clearly major issues. For example in 2017, there were 203 employees and just over £2m in wage costs. 2018 saw a reduction of employees to just 147 and £1.6m in wage costs, so a wage bill reduction of £400k.

However, despite that £400k reduction, the operating profit was the same. So the park have maintained that profit not as a result of growth, but by actively cutting the quality of the product being offered at the park by way of attraction and F&B closures. Those cuts, Covid and the closure of the park's thrill rides have already had a substantial effect on future guest's perceptions of the park, so they face a real uphill battle to get customers back.

I agree the park is not a lost cause. Despite Flamingoland and Gulliver's being relatively close, LWV is still relatively spaced out from the rest of the UK theme park market. But, the investment that it now requires is substantially more than just reopening The Ultimate and Raptor Attack. It's by far my most local park, so I'd love to see it succeed, but the decline there has been going on for much, much longer than the likes of Drayton Manor. A turnaround is going to require some really big thinking from the new owners to make the place even remotely sustainable.
 
Morning Star said:
The acquisition will be funded from a GBP2 million extension to the group's revolving credit facility and existing cash reserves. Lightwater Valley is expected to generate earnings for Brighton Pier upon completion of the deal.
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Morning Star said:
"This acquisition continues the company's development as a consolidator within the leisure industry, and we are excited to explore further growth opportunities as they arise," says Chief Executive Anne Ackord.
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Having 3 million quid in the bank to lob at a failing theme park to buy it along with 2 mil from their usual credit supplier without having to raise elsewhere, plus the inferred opportunity (they see it as crap, but cheap crap they can work with) is a good sign. They've spent big on the Palace Pier and it has returned profits despite it being in a similar situation as LWV before. We can be hopeful.
 
Poisson said:
We can be hopeful.
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I think that makes it worse.

At least with Livingstone Leisure I'd resigned myself to it closing in the near future, now there's a faint chance they might turn it into something worth visiting again I'll only have to deal with the disappointment again in a few years time.
 
Ride Rater has had an interview with the new owners, discussing the future of the park and The Ultimate.

“[The Ultimate] is not dead in the water. It needs some work doing on it, [but] we are more than conscious of its iconic status. “If we can do something with it, then we will. Obviously safety has got to be the priority, so in due course we will have a look at it and make sure it complies with modern standards. Ms Ackord described the Ultimate as “quite fascinating” and “quite a feature”. She said: “It is quite unique. There are options to shorten it a little bit [or] to change its track.” “You wouldn’t want something that large in your back garden and not be able to use it, would you?”
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Full Article: https://riderater.co.uk/9058/lightwater-valley-owners-to-look-at-ultimate/
 
If they just trimmed off 10 metres or so I wouldn't mind - might make it back to the station consistently then!
 
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Tbh I could see a proper set of brakes and removal of the bunny hops prior to the second lift.
 
I had Lightwater down as dead and buried after the news earlier this season. Whatever happens, this is a definite reprieve.
 
WillPS said:
I had Lightwater down as dead and buried after the news earlier this season. Whatever happens, this is a definite reprieve.
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They aren't out of the woods yet. The owners who have just sold them have only had them for 3 years.

The place needs SERIOUS investment. Something I don't think Brighton Pier Group have.
 
Benjsh said:
They aren't out of the woods yet. The owners who have just sold them have only had them for 3 years.

The place needs SERIOUS investment. Something I don't think Brighton Pier Group have.
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Apparently Brighton Pier Group have made fairly drastic improvements to Brighton Pier in their time owning that place, so I’m fairly optimistic about Lightwater’s prospects under the company!
 
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