Major London film studio development put on hold over Brexit
A proposed new 'Hollywood-style' film studio development planned for east London has been paused amidst concern over Brexit.
City Hall announced plans in 2017 for a major new studio development in Barking and Dagenham.
As the Evening Standard reports, Los Angeles-based developers Pacifica Ventures were appointed in 2018.
The 22-acre site opposite Dagenham Underground station was set to house facilities including 12 sound stages, training facilities, and public attractions.
The £110 million project was billed as "the next global destination for making blockbuster movies", and was predicted to create 780 full-time jobs and bring £35 million a year to the city's economy.
But yesterday Pacifica announced that it was pausing work because of the continuing uncertainty over Brexit.
In a statement the company said: “Unfortunately we have been forced to put the project on hold until the Brexit uncertainty has been resolved.
“We understand the council wants to move forward more quickly and they have our blessing if a third party should offer an alternative proposal. We hope that won’t be the case and that we’ll be able to re-start the project very soon.”
Barking and Dagenham Council has said that it will now seek alternative partners, but may also consider continuing with the development alone.