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Potential New Universal UK Park

I wouldn't get over excited about local politicians pledging their support. That's been happening for ages for this project. I believe I've mentioned many pages ago that 'Local politician agrees with electorally successful policy' is hardly a game changing headline.

Big businesses like Comcast aren't stupid. They would have priced a change of government in, and it's incredibly easy to walk away any time should they not like the way the wind is blowing. Very easy to sell that land and very little is lost in doing so.

It'll be the cards on the table and the meat on the bone that would be a make or break it at this stage, regardless of what any Tom, Dick, or Harry in any position of power in Bedfordshire writes on social media. Not saying that this doesn't put pressure on the government to be favourable towards it, but I think all this 'local councillor's secretary pledges support for Universal' stuff possibly weakens the governments negotiating position. It's far more complicated than just giving Universal a rubber stamp or thumbs up. It's about who's going to pay for what, and on what terms.
 
I don’t really think local politicians have much say either; they’re in it for the PR.

Unless the treasury bean counters give the green light it doesn’t matter.

Unfortunately the treasury bean counters can’t see past their own noses. A project might not get £3 out of every £1 spent for example but it doesn’t mean that project isn’t worthwhile.

They’re just right bastards no matter who’s in charge, and tbh they’re why this country is lagging behind.
 
And so the negotiations for incentives, tax breaks and general financial tomfoolery begin in earnest.

"Universal in talks over UK incentives for Bedford theme park" - Financial Times - https://archive.is/2024.08.18-215625/https://www.ft.com/content/b1bdfe0f-d81d-4204-96ec-bca0e0973690

According to the article, sources have said that Comcast’s decision on giving the green light will partly depend on financial incentives. They're also on record as saying that Comcast could consider alternative European, or even worldwide, sites.
 
GooseOnTheLoose said:
And so the negotiations for incentives, tax breaks and general financial tomfoolery begin in earnest.

"Universal in talks over UK incentives for Bedford theme park" - Financial Times - https://archive.is/2024.08.18-215625/https://www.ft.com/content/b1bdfe0f-d81d-4204-96ec-bca0e0973690

According to the article, sources have said that Comcast’s decision on giving the green light will partly depend on financial incentives. They're also on record as saying that Comcast could consider alternative European, or even worldwide, sites.
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This seems pretty standard. They’ll want to extract the maximum amount of tax breaks and incentives as possible. It’s all just poker.
 
havaska said:
This seems pretty standard. They’ll want to extract the maximum amount of tax breaks and incentives as possible. It’s all just poker.
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I'm aware, I even said as much a few pages ago. Just summarising the article, rather than just posting a link. I still want the government to be stern, in some respects, and not give in to every concession or demand.
 
GooseOnTheLoose said:
I still want the government to be stern, in some respects, and not give in to every concession or demand.
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I think Universal are willing to make this happen, but won't be afraid to get rough. Just look at their negotiating team:

6783efdf0410ad10de0ccdbe183ea586.jpg
 
The UK already gives generous tax breaks for film production in the UK, which is especially prevalent within the South East. I’m guessing that Universal/Comcast are expecting a similar deal for the construction of Universal GB. This project will bring in hundreds of millions into the UK economy, if a few taxes get waived in the process then that’s fine.

This isn’t some wet lettuce looking to crash the UK economy…
 
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venny said:
They’ve already sunk significant capital into land acquisition and the studies before and afterwards. Not the best negotiating position, but as has been said they’ve gotta give it a go at least. We can probably be fairly confident that there will be some deal struck.
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I wouldn't read too much into what they have invested to date tbh. They could easily sell off this land to a housing development firm I'm sure and make their money back and then some.

I'm leaning more towards a deal behind struck eventually but I don't think it's particularly close. There's so much red tape involved and obviously the government needs to commit to the infrastructure improvements in the area for this to get the go ahead. Without that it simply isn't happening.

The lack of available housing / land to build on in the country is what worries me most about this project actually. This could sadly quickly turn from being the biggest theme park project in the country to becoming a major new housing development.
 
Benjsh said:
I wouldn't read too much into what they have invested to date tbh. They could easily sell off this land to a housing development firm I'm sure and make their money back and then some.

I'm leaning more towards a deal behind struck eventually but I don't think it's particularly close. There's so much red tape involved and obviously the government needs to commit to the infrastructure improvements in the area for this to get the go ahead. Without that it simply isn't happening.

The lack of available housing / land to build on in the country is what worries me most about this project actually. This could sadly quickly turn from being the biggest theme park project in the country to becoming a major new housing development.
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I’m not sure flipping the land would be the windfall you suggest. Assuming the project doesn’t go ahead, any potential buyer will know UDE have lots of land and no use for it if they start selling it off. That won’t exactly drive prices higher.
 
venny said:
I’m not sure flipping the land would be the windfall you suggest. Assuming the project doesn’t go ahead, any potential buyer will know UDE have lots of land and no use for it if they start selling it off. That won’t exactly drive prices higher.
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No use for it as a theme park that required millions/billions of additional investment that the government didn't want to help with -- plenty of other projects won't need that
 
It's standard negotiation tactics for any large investment. There is always the outside chance they will scrap the project but this far in it wouldn't be a cheap decision for Comcast regardless of what they get back on the sale of the land.

Labour have been trying to drum up investment in the UK so it's time to put Thier money where Thier mouth is.
 
Benjsh said:
I wouldn't read too much into what they have invested to date tbh. They could easily sell off this land to a housing development firm I'm sure and make their money back and then some.

I'm leaning more towards a deal behind struck eventually but I don't think it's particularly close. There's so much red tape involved and obviously the government needs to commit to the infrastructure improvements in the area for this to get the go ahead. Without that it simply isn't happening.

The lack of available housing / land to build on in the country is what worries me most about this project actually. This could sadly quickly turn from being the biggest theme park project in the country to becoming a major new housing development.
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I think this is why I'm still cautiously optimistic about the project happening.

There's a lot of good signs about the place like the enthusiasm from locals and improvement projects not relating to Universal directly, but will be a massive benefit for them. It's certainly got a lot further than other theme park projects in the UK, but we are still firmly in the woods with this.
 
I reckon we will get the opening date of Epic Universe announcement pretty soon and then I'd imagine we might get the green or red light on this project soon after.

Could be before Christmas but I reckon most likely early 2025 now before we hear.

I think an opening date of 2030 is still possible but probably a bit too optimistic really. My son will turn 16 that year and do his GCSE exams so taking him to Universal GB for 3-4 days in the summer of 2030 would be an amazing way to celebrate. Fingers crossed it happens.
 
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