Comcast NBCUniversal will invest £6B ($8.1B) in a new Universal theme park in the UK, its first in Europe.
The UK’s Culture, Media & Sport department has officially revealed that the Universal United Kingdom Resort will begin construction in Bedfordshire soon, expected to complete by 2031, at which point it will aim to attract 8.5 million annual visitors.
Comcast NBCUniversal will spend £5B on the 476-acre complex during the first five years of construction along with an additional £1B in capital investment in the first 10 years of operation. The UK government will spend an additional £1.3B on “regional and local community infrastructure to ensure the park can operate successfully.”
The park is expected to generate £50B of economic benefit to the UK and create 28,000 jobs, the government said. UK Chancellor Rachel Reeves and Culture Secretary Lisa Nandy met Comcast chair Brian Roberts and Mark Woodbury, Chairman and CEO of Universal Destinations & Experiences, at 11 Downing Street today, where they unveiled the name and logo.
Talk of a Universal UK theme park first arose last year when Universal bought the site, a former brickworks in Bedford. It is Universal’s first park in Europe. The company has a number in the States along with parks in Japan, China and Singapore.
Roberts called the news “a special moment for our company.” “We have a long and proud history in the United Kingdom through Sky and NBCUniversal and look forward to creating a spectacular destination that supports the UK creative industries and brings joy to millions for generations to come,” he added.
Nandy said: “This unparalleled investment is a huge vote of confidence in the UK and puts rocket boosters under our entertainment industry. When it comes to creating world class experiences, the UK is second to none. We’re proud to be backing British industry, investing in local talent and partnering with powerhouses like Universal to create jobs, growth and opportunities across the UK.”
Comcast has a big UK footprint, having bought Sky in 2018 for £30B.
