Pinewood Studios: Business Case and Economic Impact Assessment

Pinewood Studios LtdPinewood Studios: Business Case and Economic Impact AssessmentJanuary 2013Phase 1 – 5 years: 2015/16 - 2019/20;Phase 2 – 5 years: 2020/21 – 2024/25; andPhase 3 – 5 years: 2025/26 – 2029/30.3.4.2.3 Based on the submission of a planning application in early 2013, and having regard to thepossibility of a public inquiry, it is anticipated that development work can start on site infinancial year 2015/16 (commencing 1 st April 2015).Phase 1 - will involve offices on the existing site, along with multi-storey car parking. Inaddition, on and off site works and construction of half of the new stage facilities andassociated production ancillary space on the new site can commence. A large proportion ofthe off and on site works will be required in Phase 1.Phase 2 - will include the remaining half of new stage facilities on the new site plus offices.Additional on and off site works are included as accommodation is developed. Productionfacilities will be developed across Phase 2, i.e. it is assumed that physical construction andworks will take place across a number of years within Phase 2.Phase 3 - will include further demolition and construction of stages and ancillary facilities onthe existing site. This work will be completed following the availability of stages and otherfacilities on the new site which will enable decanting of existing users and rescheduling ofproduction. Phase 3 will include the final component of office development on the existingsite. Remaining on and off site works are included. Production facilities will be developedacross Phase 3.3.4.2.4 Table 3.7 illustrates the phasing across the East and West Areas (GEA sq m) for stages,workshops and offices.Table 3.7: Indicative phasing across the East and West sites (GEA sq m, excluding demolitions 34 )All GEA sq m Phase 1 Phase 2 Phase 3 TotalW E Total W E Total W E Total W E TotalStages - 12,090 12,090 - 12,915 12,915 4,645 - 4,645 4,645 25,005 29,650Workshops - 12,407 12,407 - 13,507 13,507 4,679 2,000 6,679 4,679 27,914 32,593Offices 14,130 1,775 15,905 - 7,725 7,725 2,600 8,225 10,825 16,730 17,725 34,455Other 35 478 1,354 1,832 - 500 500 - - - 478 1,854 2,332Total 14,608 27626 42,234 - 34,647 34,647 11,924 10,225 22,149 26,532 72,498 99,030333435The financial model for PSDF is for a 20 year period which includes three financial years before the start of Phase 1 development and 2years post completion of Phase 3.Demolitions total 6,194sq mOther accommodation (total 2,332 sq m) includes small buildings on site such as energy and recycling buildings.29