The company behind Madame Tussauds is set to launch a £185million Legoland theme park in Japan.
Merlin Entertainments said the new visitor attraction in Nagoya will become the seventh Logo-themed park worldwide. The Dorset-based company plans to open two to three parks a year until there are 20 across the world.
The investment will be backed by the Kirk Christiansen family, who own 29.9% of the FTSE-250 visitor attraction group since they sold a stake in the Lego Group in 2005.
The famous toy was designed by Ole Kirk Kristiansen and established in in 1934. The name comes from the Danish words “Leg godt”, meaning “Play well”.
Dorset-based Merlin will invest £53million to establish the new attraction, while the Kristiansen family, through its KIRKBI investment vehicle, will fund the remaining development costs backed by a loan from Sumitomo Mitsui Banking Corporation (SMBC). Merlin will lease the attraction from KIRKBI.
The Japanese theme park market is the largest in Asia, with an estimated value of £4billion, the company said. The country already boasts some of the world’s most successful theme parks, such as Disneyland and Universal Studios.
Nick Varney, Merlin Entertainments Chief Executive Officer, commented:
“Today’s announcement is another major milestone in the development of the Legoland brand. We are delighted to be working closely with the City of Nagoya and with KIRKBI on the project, both of whom appreciate the potential of the brand in the second biggest theme park market in the world.”
The company expects to open another Legoland park in Dubai in 2016.
The City of Nagoya has agreed to support the park with the development of travel infrastructure, including a 5,000 space multi-storey car park and improved road connectivity to the park.