Key facts
- Comcast has invested £132.6 million in its Universal United Kingdom Resort in Bedford.
- The resort, named Universal United Kingdom Resort, is slated to open in 2031.
- The UK government is investing £1.3 billion, largely for local transport infrastructure.
- Comcast acquired the land by purchasing the company Cloud Wing in August 2023.
- The resort is expected to create around 28,000 jobs.
US media giant Comcast has revealed that it has already invested more than £130 million in its upcoming Universal theme park in Bedford, the Universal United Kingdom Resort, which is due to open in 2031.
The 540-acre resort is expected to attract 8.5 million visitors in its first year, rising to 12 million within 20 years, potentially making it Europe's most-visited theme park. It will also feature a 500-room resort hotel and a shopping and dining district, creating approximately 28,000 jobs.
Comcast has committed £6 billion to the project, with the UK government also investing £1.3 billion, primarily to upgrade local transport infrastructure. Planning permission was fast-tracked by ministers in December, and the Chancellor Rachel Reeves and Culture Secretary Lisa Nandy met with Comcast's chairman Brian Roberts to discuss the project.
Comcast acquired the necessary land in August 2023 by purchasing the company Cloud Wing, which owned the rights through its subsidiaries SC Collection and Kempston Hardwick Developments. This transaction minimized the risk of a bidding war and kept the purchase price confidential. Cloud Wing's subsidiary SC Collection was renamed UDX Development Company and is now the resort's developer.
UDX's latest accounts show that by the end of 2023, Comcast group companies had lent it £132.6 million to cover land acquisition and early development costs, including a £32.3 million tax charge. A subsequent debt-for-equity swap by the end of 2024 reduced UDX's debt to £11.1 million.
Universal has already employed over 100 people in the UK to work on the project. The government's £1.3 billion commitment includes £474 million for road and rail upgrades, with the remainder to be paid to Comcast in stages: a £438 million grant after community infrastructure work is completed and a further £400 million upon the resort's opening.