UK Hollywood film studio plan lease agreed in Reading

A university hoping to develop a film studio and "bring Hollywood to the UK" has entered into an agreement with an investor in Los Angeles.

The University of Reading said it had agreed a long lease of land at its Thames Valley Science Park campus with Commonwealth Real Estate LP.

Shinfield Studios is expected to open, subject to planning approval, in 2022.

The university said it would create 1,500 new jobs and support up to another 1,500.

The studios aim to bring "major Hollywood film productions to the UK" and create £500m of annual investment to the UK, the university said.

Vice-chancellor Prof Robert Van de Noort said it was a "superb opportunity" for the university as well as the local community.

Adam Fisher, Commonwealth Real Estate LP founder, said: "We look forward to building partnerships across Wokingham and Reading to make this project a resounding success.

"Our ambitions for the new studio will be of real benefit to the local economy and the UK as a whole."

Nick Smith, managing director of Shinfield Studios, said: "Britain has an enviable array of filmmaking talent but the industry is short of high-quality studio facilities capable of catering for the new and emerging technologies that will form the core of television and film production in the future."

He said the studios, which would cost more than £200m to develop, would "create a new powerhouse of creative production and new talent".