Disney Buys 26 Acres of Land Near Magic Kingdom: Was a Fifth Gate Planned?

A company associated with the Walt Disney Company has reportedly purchased 26.3 acres near the Magic Kingdom, according to the Orlando Business Journal.

With Disney facing a cash crunch due to the shutdown of all of its theme parks worldwide, this deal was obviously in the works long beforehand.

So this begs the question: Was Disney planning on building a fifth gate before COVID-19 threw a wrench into the company’s plans?

Here’s more…

On March 31, Celebration Co. bought 26.3 acres for $1.05 million, or roughly $39,923 an acre, west of its theme park and on the southeastern shore of Reedy Lake, Orange County records showed. Winter Garden-based Lake Reedy Development Group LLC was the seller.

Now, $1.05 million is a drop in the bucket for Disney — even during this unprecedented shutdown. The shutdown of the Parks are rumored to be costing Disney at least $20-30 million per day.

Disney also bought an adjacent roughly 235 acres for $6 million, or $25,531 per acre, from Winter Garden-based Lake Reedy LLC in December. Disney has made some other high profile land purchases in the past year as well.

Again, it’s very likely this particular sale was underway before the Parks were shutdown in mid-March. And it doesn’t necessarily mean that a new Disney theme park is on the way.

It could be used for a more upscale, exclusive getaway that feels isolated on the edge of Disney property. They can have their own lake with the amenities of a getaway spot,” John Gerner, managing director of Richmond, Virginia-based Leisure Business Advisors LLC, previously told OBJ about the 235-acre purchase made in December.

However, a fifth gate being announced during the 50th Celebration nest year would be a “magical” surprise for sure.

I wouldn’t hold your breath, however. Disney is rumored to be looking at some severe cutbacks on planned projects due to the beating they’re taking from the COVID-19 closures.

[Source: Orlando Business Journal]


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