Amusement complex delayed

Press, 1 December 1982, Page 6

Amusement complex delayed

Financial problems have delayed development of an amusement complex planned for the site opposite the Ferrymead Historic Park. A spokesman for the developers, in the process of forming a company to be called the Theme Park Company. Ltd, said that the project would be scrapped unless real progress had been made by the middle of next year. The land would be developed for industrial use instead, he said. : He preferred to remain

j unnamed because of the i "sensitivity" of negotiations - I to raise finance for a $40,000 s preliminary study on the ; feasibility of the Disneylandlike theme park concept. The Development Finance : Corporation was considering • . providing 40 per cent of the • cost of the study but only if the balance was raised else- • where, and if the companies i supplying it guaranteed their ; continuing support for the project, he said. Skellerup Industries, Ltd- • and the Ferrymead Trust 7. had said they might pledge itheir commitment to contri-

bute to the • study and -• negotiations were under way -with four other companies, he said. However, it was "very difficult” to persuade investors to provide the guarantees demanded by the corporation as a condition of lending. ■The theme park would cost an estimated $2O million and would include hotel-motel • accommodation, restaurants, *a drive-in cinema, a rapidtransit monorail, a conference centre and an amusement complex comprising roller coasters, a lake with

bumper boats, and rides with electronically simulated special effects. At centre would be a "living musuem" portraying New Zealand life from sport and the arts, to farming, architecture, industry, and humour. The emphasis would be on active rather than passive displays with audiovisual and robot exhibits. The idea was mooted about six months ago but progress has been, blocked by an “after you” attitude on the part of potential in- '