The Elbe Atlantik Aquarium was a project conceived by a German consortium lead by leading local Architect Üwe Peetz as a regeneration project for a post-industrial location near Wittenberge in the Eastern part of Germany. Significant grant funding for such projects was available at that time, providing there was match funding provided from other sources, particularly the private sector.
The consortium sought an experienced attractions management company to develop the project in association with them and to go on to operate it.
Based on Keith Thomas’ experience of developing and operating aquaria in Germany, we were engaged to help them in this by carrying out a review of the project and of the market for the proposed aquarium, going on to give an assessment of the project’s viability.
We were also asked to research and report back on potential partner companies who might be interested in playing the role envisaged by the project team; companies who would not only be interested in operating the project but also would consider making the required investment.
On completing the review, the business case for the project was thought to be weak and the architectural concept too dominant, resulting in a scheme that was unlikely to meet the assessment criteria that an operator would apply. This was confirmed following market testing with potential operators and we advised that the project should not progress.
- Client Genesis GmbH
- Date September 16, 2013
- Tags Business Planning & Financial Modeling, Funding Advice & Assistance, Visitor Attractions