Investors related to the £2.5 billion London Resort project are believed to be among parties vying to buy land on the Swanscombe Peninsula earmarked for the entertainment complex, KentOnline can reveal.

In June, the company which owned the freehold on the 372-acre former cement works site, along with 39 acres of the Manor Way Business Park - Swanscombe Development LLP - was put up for sale.

It appeared to spell the end of the London Resort dream with the company behind the ambitious project handcuffed by financial restrictions and an upcoming legal battle.

After first falling into administration, London Resort Company Holdings (LRCH) has, since April 2023, been subject to what is known as a Company Voluntary Arrangement (CVA).

In short, this is a measure deployed by companies in financial problems which allows it to strike a deal with those it owes money to - its creditors - to extend payment terms or accept lesser amounts.

In addition, former Transport Minister Steve Norris, who had been chairman of LRCH, quit the role in April of this year - leaving the company in an apparent state of limbo.

It is believed to have spent £100m since the ambitious plans were first announced in 2012 but, so far, has failed to put a spade in the ground - a situation creating uncertainty for firms currently operating on the site.

But in a sensational twist, it seems all hope for the park - which promised tens of thousands of jobs, hotels and world-class rides - may not yet be lost.

A spokesman for London Resort revealed to KentOnline: “The dream of delivering an outstanding leisure destination has not gone away.”

Savills, the agents handling the sale of the Swanscombe Development company, this week confirmed “negotiations were ongoing” with interested parties for the site, following an end-of-July closing date, and that while talks continued, the sales details had been removed from its website.

It refused to elaborate on who it was talking to about the potential purchase.

But a spokesman for the London Resort, when approached by KentOnline, has confirmed “investors, on behalf of the London Resort, have expressed an interest”.

Quite how far that interest has got - or if it has reached the stage of making an offer - is not clear. Or for that matter, who the investors could be.

LRCH itself had previously had an option to buy the site from Swanscombe Development - a 50/50 joint venture between Aggregate Industries and Anglo American International Holdings. But that option expired in 2022 and has not been renewed since.

The option to buy the freehold of the land had cost LRCH some £4m over the years - all of which was non-refundable.

It was estimated the land was worth well in excess of £100 million during the duration of the option period. However, that price is expected to have dropped significantly following the designation of much of the peninsula as a Site of Special Scientific Interest (SSSI) by Natural England in 2021 owing to its grassland, wetlands, birds, and invertebrate species – including one of the rarest kinds of spiders in the country.

It offers an additional layer of protection which will likely put off many speculative developers and one investors connected to the London Resort will be only too aware of.

The added complications of the SSSI status is thought to have played a significant role in derailing the project and, ultimately, toppling LRCH over a financial precipice. Savills has not disclosed the asking price of the land.

A further headache faced by LRCH is a High Court challenge.

Prior to the CVA being approved, the company seeking the status must obtain permission from three-quarters of its creditors. This it achieved, but not without the opposition of one high-profile former partner.

It understood that Hollywood movie studio Paramount - which had originally lent its name to the park before scrapping that and later offering instead access to its intellectual property (IP) rights (such as the ability to use the name of its biggest movies such as Star Trek and Mission: Impossible on attractions) objected.

A High Court hearing is scheduled, according to those overseeing LRCH’s CVA, for April 2025. The spanner in the works - and the subsequent delay it causes - was the cause of Steven Norris’ decision to step down.

As a consequence, it is examining whether the CVA can be extended for a further 18 months to allow for the hearing and the outcome to be determined.