Oakwood closes its doors, cites financial difficulties

[Peet]

It would be very interesting to see some recent drone footage of exactly what is left now, I haven't seen any for months at this point. Yet they first started the tear down in February, and seemingly accelerated it after announcing the closure in March, so by this point, there may be nothing but the coasters left standing in terms of ride hardware. (Or EVERYTHING may still be on site, with some of it dismantled, but still very much present. )

Here you go:

https://x.com/OfficialRLParks/status/1924885489074553174?t=O-ETP-r6Tit2H2C64m--Rg&s=19

Everything seems to still be there, even most of Hydro seems to be lying around in pieces.


The website has been completely changed now compared to how it looked a few days ago:

Oakwood - Revive Wales

Oakwood Contract Status Awaiting Decision

revive.wales

Regarding funding, they do claim to have financial backing but can't reveal where it comes from, and obviously no figures. I think they'd probably need £100M + to buy it and really turn the place around.

 

[Nicky Borrill]

Here you go:

https://x.com/OfficialRLParks/status/1924885489074553174?t=O-ETP-r6Tit2H2C64m--Rg&s=19

Everything seems to still be there, even most of Hydro seems to be lying around in pieces.
View attachment 37580

The website has been completely changed now compared to how it looked a few days ago:

Oakwood - Revive Wales

Oakwood Contract Status Awaiting Decision

revive.wales

Regarding funding, they do claim to have financial backing but can't reveal where it comes from, and obviously no figures. I think they'd probably need £100M + to buy it and really turn the place around.

The website has indeed been changed, they openly admitted not having funding on there before, they've changed that since.

Good luck to them, I still can't see it, because the park was shut without offering it up on the open market as a going concern for a reason, but I'd flipping love to be wrong...

Oh, and I've just seen a recent walk through of the park and rides, most do indeed seem to be there still. Not in a 'great' shape, but after following Kentucky Kingdom, certainly not beyond saving.

Location Unknown UK

𝗢𝗔𝗞𝗪𝗢𝗢𝗗 𝗧𝗛𝗘𝗠𝗘 𝗣𝗔𝗥𝗞 Oakwood Theme Park, located in Pembrokeshire, South Wales, was the country's largest theme park and a beloved destination for nearly four decades. Established in 1987 by the...

www.facebook.com

 

[Graeme]

Good luck to them, I still can't see it, because the park was shut without offering it up on the open market as a going concern for a reason, but I'd flipping love to be wrong...

Out of interest, do you have any inkling as to why they did that? I appreciate they wanted to move most of the rides to their other parks, but that still leaves the best wooden coaster in the UK, and in good, refurbished condition too. The park didn't have a great reputation, admittedly, but I'd have thought that could be improved with a new owner.

 

[Nicky Borrill]

Out of interest, do you have any inkling as to why they did that? I appreciate they wanted to move most of the rides to their other parks, but that still leaves the best wooden coaster in the UK, and in good, refurbished condition too. The park didn't have a great reputation, admittedly, but I'd have thought that could be improved with a new owner.

I don't I'm afraid, only theory and personal speculation.

I am really surprised that they didn't try and sell it first, selling the park, with the rides as they stood, in an operating park, even one that is performing poorly, would surely have been best for everyone. But, this is what worries me, this is what makes me think there's more to it. It's the kind of move you see in other sectors. Big developer makes you an offer you can't refuse for the land your business stands on. But first, you have to make the business seem unviable, and destroy any hope of anybody else making it work, so that a change of use will sail through. But again, it's just me speculating, no evidence, and nothing to even suggest this might be the case, beyond a personal 'hunch.'

 

[Peet]

Positive news folks, they have sent a catch-up email:

I *really* hope this happens, but updating their website with this kind of non-update doesn't fill me with confidence - it sounds like they have had no contact from Aspro at all.

 

[Nicky Borrill]

Positive news folks, they have sent a catch-up email:
View attachment 37748
I *really* hope this happens, but updating their website with this kind of non-update doesn't fill me with confidence - it sounds like they have had no contact from Aspro at all.

They mean 'follow up' email, don't they? A catch up email is something you send to bring somebody up to date with the current situation. "James has been on annual leave, but I sent them a catch up email."

So... Aspro haven't even humoured it with a response?


Shock...


/sarcasm

 

[owenstreet7]

The website has indeed been changed, they openly admitted not having funding on there before, they've changed that since.

Good luck to them, I still can't see it, because the park was shut without offering it up on the open market as a going concern for a reason, but I'd flipping love to be wrong...

Oh, and I've just seen a recent walk through of the park and rides, most do indeed seem to be there still. Not in a 'great' shape, but after following Kentucky Kingdom, certainly not beyond saving.

Location Unknown UK

𝗢𝗔𝗞𝗪𝗢𝗢𝗗 𝗧𝗛𝗘𝗠𝗘 𝗣𝗔𝗥𝗞 Oakwood Theme Park, located in Pembrokeshire, South Wales, was the country's largest theme park and a beloved destination for nearly four decades. Established in 1987 by the...

www.facebook.com

It's a possibility that Aspro had valued Oakwood both as a going concern and the land itself and found the land more valuable as land than as an amusement park.

This may have influenced their decision to close and asset strip.

 

[JoshC.]

Their whole plan is nonsensical, idealistic and wreaks of an enthusiast's wet dream.

They have built up a 5 year plan, and they make a particular point to say they have built it with enthusiast input (as well as industry professionals). But to directly say it has enthusiast input is just a bit of a red flag in my books...you don't salvage a closed park by gearing towards to 1%.

Supposedly in Year One of the park reopening, they plan to do a "comprehensive assessment" of the park's infrastructure and rides. You know, the thing you should do before the park opens. Perhaps even before you buy it.

Year Two includes a rethemed land and a high capacity dark ride. Something like that will cost multi-millions. And that's something they are planning on doing as a Year Two, just building the foundations of something bigger.
That's Walibi Belgium level work. You know, the park who are investing over €100m over several years to completely transform the park, and have the backing of one of the largest and most successful theme park operators in Europe. Hmmm.

And whilst Oakwood isn't a small park, a "high capacity" dark ride isn't the highest priority. But it would be something a head-in-the-clouds enthusiast would want.

And then the next year is the park's headline ride. Which will be...something. They don't know what but it'll be big and expensive and cool. Where the money comes from no one knows.

And then they're not stopping there. Another high capacity ride! More theming! Transport rides! More things! IPs! All the things.

And enthusiasts like behind the scenes insights right? Well don't worry, in Year Five, this new owner will introduce BTS experiences for an upcharge. Who cares if anyone wants it, or if they wanted it 3 years ago, they're gonna to introduce it then!


You're more likely to ride Kingda Ka this year than see this proposal be successful.

 

[Matt N]

Their whole plan is nonsensical, idealistic and wreaks of an enthusiast's wet dream.

They have built up a 5 year plan, and they make a particular point to say they have built it with enthusiast input (as well as industry professionals). But to directly say it has enthusiast input is just a bit of a red flag in my books...you don't salvage a closed park by gearing towards to 1%.

Supposedly in Year One of the park reopening, they plan to do a "comprehensive assessment" of the park's infrastructure and rides. You know, the thing you should do before the park opens. Perhaps even before you buy it.

Year Two includes a rethemed land and a high capacity dark ride. Something like that will cost multi-millions. And that's something they are planning on doing as a Year Two, just building the foundations of something bigger.
That's Walibi Belgium level work. You know, the park who are investing over €100m over several years to completely transform the park, and have the backing of one of the largest and most successful theme park operators in Europe. Hmmm.

And whilst Oakwood isn't a small park, a "high capacity" dark ride isn't the highest priority. But it would be something a head-in-the-clouds enthusiast would want.

And then the next year is the park's headline ride. Which will be...something. They don't know what but it'll be big and expensive and cool. Where the money comes from no one knows.

And then they're not stopping there. Another high capacity ride! More theming! Transport rides! More things! IPs! All the things.

And enthusiasts like behind the scenes insights right? Well don't worry, in Year Five, this new owner will introduce BTS experiences for an upcharge. Who cares if anyone wants it, or if they wanted it 3 years ago, they're gonna to introduce it then!


You're more likely to ride Kingda Ka this year than see this proposal be successful.

There is a chance, I feel, that some of the details might be embellished a bit. On the face of it, that does sound like a lot of spend for a park like Oakwood, but the terms used are quite unspecific. Technically, a “dark ride” and “area retheme” would not have to be as glamorous as that pulled off by Walibi Belgium, and anything can technically be “a headline attraction”.

Realistically, I don’t think they’d be able to spend nearly that much that quickly if they did acquire the site. Although based on other theme park revivals like Kentucky Kingdom, one or two new major attractions within a few years doesn’t seem that far fetched; that park had Lightning Run and Storm Chaser within a 2 year period.

I agree that the degree of transparency seems a little bit of a red flag. You wouldn’t normally go boasting about a “catch-up email” being sent, I feel…

I don't I'm afraid, only theory and personal speculation.

I am really surprised that they didn't try and sell it first, selling the park, with the rides as they stood, in an operating park, even one that is performing poorly, would surely have been best for everyone. But, this is what worries me, this is what makes me think there's more to it. It's the kind of move you see in other sectors. Big developer makes you an offer you can't refuse for the land your business stands on. But first, you have to make the business seem unviable, and destroy any hope of anybody else making it work, so that a change of use will sail through. But again, it's just me speculating, no evidence, and nothing to even suggest this might be the case, beyond a personal 'hunch.'

Just to play devil’s advocate here; how exactly do we know that Aspro didn’t try to sell the park?

Theme park sales aren’t exactly the type of thing that are typically broadcast publicly. There isn’t really an equivalent of RightMove or whatever for theme parks, so how would we necessarily know if Aspro had tried to sell it?

 

[Nicky Borrill]

Just to play devil’s advocate here; how exactly do we know that Aspro didn’t try to sell the park?

Theme park sales aren’t exactly the type of thing that are typically broadcast publicly. There isn’t really an equivalent of RightMove or whatever for theme parks, so how would we necessarily know if Aspro had tried to sell it?

Like this? https://blooloop.com/theme-park/news/dinosaur-theme-park-tenby-wales-sale/

They're not broadcast publicly when the sale was initiated by the buying party, no. But if the owner, or selling party, is the one that wants to dispose of the asset, then they'd need to advertise it somewhere, or else nobody would know it was for sale. And yes, multiple "Rightmove" for businesses do exist.

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It's a possibility that Aspro had valued Oakwood both as a going concern and the land itself and found the land more valuable as land than as an amusement park.

This may have influenced their decision to close and asset strip.

Yes, perfectly possible, and kind of my point. Doesn't bode well, if they think they can get a lot more for the land by selling it to a none theme park developer, does it?

 

[owenstreet7]

Yes, perfectly possible, and kind of my point. Doesn't bode well, if they think they can get a lot more for the land by selling it to a none theme park developer, does it?

Exactly, I understand that's what Six Flags are doing with Six Flags America