It has submitted a preliminary document to Scarborough Borough Council, outlining plans for Flamingo Land Coast, and is currently working on a detailed planning application.
Gordon Gibb, chief executive, said: “Flamingo Land is very much committed to creating a new, exciting family attraction in Scarborough and we are looking forward to sharing these plans with the public.”
Plans show a four-storey building on Foreshore Road with space for attractions, education facilities, restaurants and children’s play areas. Another building adjacent to the main area will house a “winter garden” and will also feature a viewing area.
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To the rear of the main building, accessed from the roof, is the rollercoaster with the cliffhanger tower, which will stand 60 metres tall.
The council has asked for an Environmental Impact Assessment to be carried out, given the scale and nature of the application, and a public consultation event will be held in Scarborough in the future to give members of the public chance to give feedback on the scheme.
Flamingo Land said technical surveys have been carried out, in particular to assess the suitability of the slope at the back of the development area, and designs for the building are being drawn up.
Talks are taking place with ride manufacturers and specialist engineers are assessing the safety and installation aspects of what Flamingo Land says will be a 'cutting-edge and unique attraction', if it gets the go-ahead.
Cllr Derek Bastiman, Leader of Scarborough Borough Council, said: “We are delighted that Flamingo Land has submitted its screening report and revealed its initial, exciting plans for Flamingo Land Coast.
“The proposed transformation of the former Futurist site into a state-of-the-art and extremely high quality attraction that exceeds the aspirations of today’s families would be a game changer for South Bay, Scarborough and indeed the whole of the Yorkshire coast.
“We welcome Flamingo Land’s initiative to carry out its own public consultation prior to the planning application being submitted.
“We look forward to the public being given the opportunity for dialogue and opinion both through their process and also through the statutory planning application consultation.”