A deal to save the century-old Twickenham Film Studios is to be completed within weeks after an anonymous bidder made an offer that would clear existing debts.
The studios where films including War Horse and The Italian Job were made were expected to close after administrators said movie-making could not continue on the site in the light of rising debts and fierce competition from the bigger complexes of Pinewood and Leavesden.
But housebuilder Taylor Wimpey withdrew plans for a residential and commercial development on the site after Richmond council threw its weight behind campaigners eager to preserve its movie history.
The local authority said it would not permit a change of use until all efforts to sell the site as film studios had failed.
Administrator Gerald Krasner at Begbies Traynor then embarked on talks with two potential bidders and accepted a higher offer that would “comfortably” clear existing debts of about £1 million and preserve the jobs of the 14 staff, he said today.
“It’s not the best price but it’s probably the best deal we could have got in the time frame,” he added. A non-refundable deposit of £100,000 has been paid which gives four weeks exclusivity to exchange contracts.
The prospective new owner does not want to be identified until the deal is closed with a deadline set of May 23. Asked if the buyer was a public figure, Mr Krasner said he did not recognise the name “and I’m a film buff”. It would be a limited company, he added.
A campaign to save the studios was backed by industry big-hitters such as Steven Spielberg, Colin Firth and Paul McCartney who made the Beatles movies there.
Maria Walker, a post-production supervisor who lives locally and organised the petition, said: “I hope the bid is genuine but it seems very strange that it suddenly appeared from nowhere.”
