Margate's Dreamland project was 'speculative and risky'

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Dreamland's Scenic RailwayImage source, Getty Images
Image caption,
Dreamland opened in June 2015 and the Scenic Railway ride opened four months later

Margate's £18m Dreamland project was described as "speculative and risky" in an independent report commissioned by Thanet council, it has emerged.

The document revealed a series of worries about the tourist attraction four months before it opened last year.

The council said the report confirmed the complexities and risks of a unique project on the scale of Dreamland.

Last week, an email revealed the Heritage Lottery Fund had "serious concerns" over the attraction.

The property consultant's report by Bilfinger GVA, seen by BBC South East Today, was published last February but kept confidential due to "commercial sensitivity".

'Considerable risk'

It approved the partnership between Thanet District Council and park operator Sands Heritage, but warned "this project is still extremely speculative in our opinion given market conditions prevailing in this sector".

It also warned there was "a considerable risk associated with the viability of a scheme of this nature".

Richard Baldwin, the report's author, said: "In the UK there haven't been any major developments of theme parks over the last 10 to 15 years, and certainly not in coastal locations.

"So I felt I was duty-bound to provide that sort of insightful view to the council as part of that report."

Thanet council said the report had been acknowledged by the authority and its partners throughout.

It added: "The council is perfectly satisfied in following its due process and adopted the recommendations of the report."

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