Netflix is in advanced discussions to make Pinewood Studios its production hub in the United Kingdom after months of negotiations over a long lease deal.
The studios are based in Slough, just outside of the City of London. They have a central role in the film production in the United Kingdom as Netflix continues to expand their operations.
According to the Financial Times, the said move will see Netflix make use of the same space that has been the home to iconic films such as James Bond and Star Wars and talks are now at an advanced stage.
Recently, Netflix launched its first production hub in Europe with a 237,000 square foot facility located at the north of Madrid and has been searching for additional space across the continent.
It has also secured the Sunset Bronson studios that is located on Sunset Boulevard in Los Angeles, the site of the original studio of Warner Brothers, as well as a space in New Mexico.
Currently, Walt Disney is filming the next film in the Star Wars saga at its Pinewood Studios, however, it has not disclosed the shooting location of its other upcoming projects.
Netflix has supported the application of Pinewood to expand their facility in Shepperton and wrote a letter that was addressed to the local council.
In the said letter, Ty Warren, the vice-president for physical production of Netflix, stated: “In 2018, Netflix plans to spend approximately $8bn on content worldwide, across more than 700 television and film productions.”
He added: “We would like to be able to produce more in the UK, and at Shepperton in particular; however, we are limited by the lack of available space.”
The plans of Pinewood for the expansion will cost approximately £500 million as they look to add another 465,000 square foot of stage space.