Pinewood Shepperton is reviewing plans for its £200m Project Pinewood after the secretary of state for communities today refused permission for the project.
Project Pinewood was to comprise 1,400 homes and 200,000 sq ft of commercial space on 100 acres at the Pinewood Studios in Buckinghamshire.
The scheme, which Pinewood has been working on since 2007, was called in after South Buckinghamshire district council objected to development on greenbelt land.
The group said it will now “take time to review the decision in detail”.
It added: “The company’s investment in the Project Pinewood land and costs incurred for the planning application are not material to the long-term prospects of the company.”
Accounts for the firm show it has spent around £7.6m on the scheme.
samantha.mcclary@estatesgazette.com
