This just in: Disney World has reportedly purchased even more land near Magic Kingdom, even though this is a tumultuous time for the company.
According to a report released today by Orlando Business Journal, Celebration Co. — an entity related to The Walt Disney Company — bought 26.3 acres of land near Magic Kingdom on March 31. The land was purchased from Lake Reedy Development Group LLC for around $39,932 per acre, totaling $1.05 million.
Orange County records show that the land purchased at the end of March 2020 is located very close to Magic Kingdom, the original Walt Disney World Resort theme park. It’s located just west of the park on the southeastern shore of Reedy Lake. Take a look in the image below:
Orlando Business Journal reports that Disney did not provide any additional comments and they were referred to the public document for all information regarding the purchase.
To catch up, Disney has made quite a few land purchases over the past couple of years. We shared at the end of last year that between fall 2018 and December 2019, Disney purchased nearly 3,000 acres of land. Disney purchased almost 1,000 acres of land near Celebration in 2018. Then in early 2019, Disney bought an additional over 1,500 acres of land in Osceola County. And then in late fall 2019, Disney purchased over 200 acres near Magic Kingdom. The most recent purchase of just over 26 acres may not seem like much in the grand scheme of things, but it all adds up.
But what’s all this land for? Even though plenty of Disney fans are hoping that Walt Disney World will be getting a fifth theme park, that seems pretty unlikely right now. More than likely, the land will be going toward The Walt Disney Company’s conservation efforts. Purchasing additional land allows Disney to develop the land the company already owns while still continuing to remain committed to land conservation.
However, one expert had another take. Back in December, Orlando Business Journal was told that one of Disney’s motivations for continuing to purchase more land around Walt Disney World is to strengthen its boundaries.
“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,” said managing director of Richmond, Virginia-based Leisure Business Advisors LLC John Gerner in December.
We don’t know what to think about these purchases. But we have to admit, having even more at Disney World would be pretty fantastic!