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Universal close to sealing deal for UK theme park

Comcast, Universal’s parent company, is close to reaching a deal with the UK government for its proposed theme park in Bedford

If approved Universal’s UK park could become the largest theme park resort in Europe

The UK government is on the verge of securing a landmark deal with entertainment and media conglomerate Comcast to build its proposed Universal theme park in Bedford, UK.

According to new reports by The Financial Times, UK officials are currently finalising terms to secure billions of pounds in investment for the park, which, if built, could become the largest theme park resort in Europe.

The UK Treasury has been discussing a package of incentives with Comcast regarding the development, known as ‘Project Nectarine’, including improvements to local infrastructure, particularly road and rail networks.

Talks have escalated in recent weeks and a deal could be announced as early as next week, The Financial Times reports, with one source close to discussions confirming the deal is in “its final stages,” adding that final terms are still under negotiation.

An economic impact analysis report, commissioned by Universal Destinations & Experiences, projects that the park could generate almost £50bn (US$64bn, €58bn) for the UK economy during its construction and first 20 years of operation.

Plans for the theme park were first announced in late 2023, after Universal Destinations & Experiences acquired 476 acres of land in Kempston Hardwick in Bedfordshire, UK.

“We continue to evaluate the potential project and are engaged in productive discussions with the UK government,” a Universal representative said at the time.

The site for Universal’s proposed UK theme park in Bedfordshire, UK   CREDIT: UNIVERSAL

In February, Universal Studios officially registered a trademark application in the UK, marking a key step in Universal’s European expansion plans.

Submitted to the UK’s Intellectual Property Office, the trademark spans a wide range of services, from theme and amusement parks to waterparks, hotels, restaurants, and more.

The trademark application also included entertainment services such as live performances, costumed character appearances and guided tours of motion picture and television production facilities, complete with exhibitions and demonstrations.

“A world-class theme park and resort from Universal has the potential to generate billions in economic benefit for the UK, by creating thousands of high-quality jobs and attracting millions of new visitors to the country,” Page Thompson, president of new ventures at Universal Destinations & Experiences, said in a statement last summer.