The former owner of Alton Towers reportedly plans to transform a Cornwall theme park into a "premier European resort".
John Broome has bought Cornwall's Crealy Great Adventure Park, near Wadebridge, and nearly 200 acres of adjoining farmland.
The Camel Creek Resort project includes up to 236 holiday villas, courtyard properties, tree houses, a pool, spa, restaurant, pub and convention centre.
A spokesman told the BBC the development would see the current theme park updated but it would not resemble Alton Towers and there would be no large new rides.
Plans include a tropical lake, the largest in the UK. Admission to the resort will be free to local people within a one kilometre radius, while a discount would be offered to other people living nearby.
He said it would create at least 950 new full-time jobs and construction could start in the new year.
The park currently contains a range of family rides, attractions and animals including meerkats, horses, caiman and snakes.
Broome took control of Alton Towers in the 1970s, turning it into a major theme park before selling to Tussauds Group in 1990. It is now part of the Merlin Entertainments portfolio.
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