Joint venture sees £250m Chinese investment in UK tourism
An artist’s impression of the expanded Waterside Luxury Village, Cornwall
The London Group and SinoFortone Group has signed a memorandum of understanding which will see more than £250 million invested in the tourism infrastructure of the United Kingdom.
The British-Chinese joint venture is designed to bring British and Chinese people together during their leisure time in a stimulating harmonious but relaxed environment.
The enterprise will be named SinoBritish Waterside Villages and will give British, Chinese and other overseas visitors the opportunity to experience each other’s cultures in outstanding locations and to develop friendships with individuals and families from other nations.
The London Group have recently made the first acquisition for this concept by purchasing Lakeview Country Club, a 30 year old Cornish holiday village for £12,500,000 and have obtained permission to extend the 100 acres into the largest and most desirable private waterside village in Britain.
Lakeview (to be renamed Waterside Luxury Village, Cornwall) is located in the heart of Cornwall, Britain’s foremost holiday destination, and with the support of both local and central government is hoping to open up to international markets.
The private village has been designed by award-winning architects Evans and Shalev (designers of the Tate Modern in St Ives) who will also create a stunning combination of historic refurbishments and new buildings within another three of the most popular regions in the United Kingdom; London, Scotland and The Lake District.
“It is an honour for London Group to be involved in this unique concept through a partnership between two of the world’s greatest and most historic nations, which is designed to bring our citizens together to share their precious leisure time,” comments Simon Hume-Kendall, chief executive of London Group.
“We are most grateful for the support received from VisitCornwall, as well as for prime minister David Cameron’s announcement of a major investment into the West Country and Cornish infrastructure, which alongside the excellent co-operation and hard work from our Chinese partners has made this ground-breaking project possible.”