From Mike Hafhy at NW Business News
PINEWOOD Shepperton, the film & TV studios business which was bought by Peel Holdings for £96.1m in July, has had its bid to develop a £200m housing scheme rejected by the government.
The company had been planning the development, known as Project Pinewood, for almost five years and has spent around £7.6m in a bid to try and get it through the planning process.
It was to consist of 1,400 homes around streetscapes built to look like various overseas cities - Paris, New York and Amsterdam, for example. These would be sold to homeowners but also used as backdrops to film sets on greenbelt land next to its existing Buckinghamshire studio complex.
However, following a public inquiry, the Secretary of State for Communities and Local Government has refused permission for the scheme.
In a statement, Pinewood Shepperton said that it was "disappointed" by the decision. "The company will now take time to review the decision in detail."
It said that the investment made both in the land and the costs of pursuing the application were "not material".
"The company will continue to implement its master planning consents at Pinewood and Shepperton studios and pursue its international strategy of developing studios overseas."
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