Pinewood Shepperton is aiming to submit a planning application for the expansion of its Pinewood site before the end of the year.
In May, Pinewood Shepperton announced it would revisit plans to expand its Buckinghamshire base after proposals to build standing sets and 1,500 homes were blocked by the secretary of state for communities and local government.
Pinewood Shepperton chairman Michael Grade told shareholders that the company intends to submit a planning application in the autumn.
He said: “A long term plan for growth and investment at Pinewood Studios is necessary to remain globally competitive and respond to the changing needs and future demand of the screen and digital industries”.
Speaking at the facility group’s annual general meeting today, Grade added that film revenues reflect “near capacity” use of the firm’s facilities and that the studios group’s media park has “high” occupancy levels.
He said: “The company continues to invest in its facilities to ensure high levels of utilisation and that it remains a leading destination of choice for producers of creative content.
“As part of this we have embarked on a major investment in our television business.”
Pinewood Shepperton refinanced its main banking facilities in May and its shares were delisted from the main market of the London Stock Exchange and admitted to trading on AIM at the end of July, along with a £5.4 million placing of new ordinary shares.
Discussions with the government of the Isle of Man for Pinewood to source and advise on film investment opportunities for its £25 million media development fund are “progressing well”, Grade added, with a further announcement about the fund to be made “in due course”.