James Bond studios makes £3.9m loss

 

Pinewood Shepperton studios slumped to a £3.9m loss in 2011 after it failed in an attempt to build replicas of Paris, New York and Amsterdam on green belt land.

The studios enjoyed record revenues of £50.7m in 2011, up by 17 per cent after it filmed scenes for movies such as The Hobbit and the next James Bond film, Skyfall. But it took an exceptional charge of £7.1m reflecting five years of costs for its "Project Pinewood" application, which officials turned down in January. This pushed the company, which is majority owned by the property group Peel Holdings, £3.9m into the red, after profits of £5.8m the previous year.

Project Pinewood would have seen the creation of a "purpose-built" film set with 1,400 permanent homes inside the streetscape buildings at Iver Heath, Buckinghamshire. The project would have cost £200m and created almost 1,000 jobs in the next 10 years, with 420 affordable homes offered inside the film sets. But it was fiercely resisted by campaigners.

The Pinewood and Shepperton studios have been home to more than 1,500 films in the last 75 years, while the two studios and the company's Teddington site have hosted more than 600 television shows.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Admin Assistant

£12000 - £15000 per annum: Recruitment Genius: An expanding Insurance Brokerag...

Ashdown Group: Editor-in-chief - Financial Services - City, London

£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...

Guru Careers: Pricing Analyst

£30 - 35k (DOE): Guru Careers: We are seeking a Pricing Analyst with experienc...

Ashdown Group: Treasury Assistant - Accounts Assistant - London, Old Street

£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...

Day In a Page

Ed Miliband interview: 'There is only one party standing up for the integrity of the UK'

'There is only one party standing up for the integrity of the UK'

Ed Miliband talks zero hours contracts, non-doms and the NHS
Libya's criminals undermine attempts to prop up a collapsing state

Libya's criminals undermine attempts to prop up a collapsing state

It's not just people-smuggling rackets, reports Patrick Cockburn
Global warming: Experts say temperatures could rise by 6C by 2100, with cataclysmic results

Scorched Earth?

Scientists fear 6C rise in temperature by 2100 - with cataclysmic results
Miriam Gonzalez Durantez: Lawyer, wife of Nick Clegg and a secret food blogger

Miriam Gonzalez Durantez

Lawyer, wife of Nick Clegg and a secret food blogger
Charlie Hebdo editor's final book: 'Letter to the Islamophobia Frauds Who Play into the Hands of Racists'

Terror couldn't silence him, and nor will death...

Murdered Charlie Hebdo editor's defiant, impassioned final work
General Election 2015: On the campaign trail in Rochdale – the town globalisation left behind

On the campaign trail in Rochdale

The town globalisation left behind
Bugsy Malone is back: Plenty of splurge guns but no twerking teens

Bugsy Malone is back

There's plenty of splurge guns but no twerking teens in the Lyric Theatre's reopening production
Should we be drinking milk? Arguments for and against dairy

Should we be drinking milk?

Arguments for and against dairy
Ivor Novello awards 2015: Meet James Napier, the backroom hitmaker for Sam Smith and Clean Bandit

Meet James Napier

The backroom hitmaker for Sam Smith and Clean Bandit is the hottest name in pop you've never heard of
14 best girls' summer dresses

14 best girls' summer dresses

Whether they're on the beach in the south of France or in the garden at nan's house, there's a dress to keep them cool, comfortable and looking fabulous
David Haye interview: Thought of Las Vegas lures Haye back to the ring

Thought of Las Vegas lures Haye back to the ring

Having overcome an injury that seemed to have ended his career, the heavyweight realised there were things left undone – a fight at the spiritual home of boxing
Revealed: Why Mohammed Emwazi chose the 'safe option' of fighting for Isis, rather than following his friends to al-Shabaab in Somalia

Why Mohammed Emwazi chose Isis

His friends were betrayed and killed by al-Shabaab
'The solution can never be to impassively watch on while desperate people drown'
An open letter to David Cameron: Building fortress Europe has had deadly results

Open letter to David Cameron

Building the walls of fortress Europe has had deadly results
Tory candidates' tweets not as 'spontaneous' as they seem - you don't say!

You don't say!

Tory candidates' election tweets not as 'spontaneous' as they appear
Mubi: Netflix for people who want to stop just watching trash

So what is Mubi?

Netflix for people who want to stop just watching trash all the time