The University of Reading has signed an agreement with affiliates of Commonwealth Real Estate for a long lease of land at the university’s Thames Valley Science Park campus in Berkshire, the UK, for the development of new £200m film studios and creative media campus.

Subject to the receipt of planning consent, the studios and associated creative and digital hub, to be called as Shinfield Studios following consultation with local commmunity, is expected to open in late 2022.

The new project will bring major Hollywood film productions to the UK and is expected to create approximately 1,500 new jobs, and support up to 1,500 additional indirect jobs.

The new scheme is expected to create around £500m of annual investment to the UK.

It will also provide new opportunities for local people and businesses as well as for the young people from different backgrounds, including students and graduates of the University of Reading, who are looking for opportunities in creative and entertainment industries.

UK Investment Minister Gerry Grimstone said: “From film, advertising and TV to visual effects, design and publishing, the UK is home to world-leading creative industries and it's fantastic to see our talent recognised globally.

“This new investment from the United States has the ambition to create 3,000 jobs and bring top class facilities to Wokingham and Reading - a huge boost to the local economy and win-win for the nation.

“A trade deal with the US can unlock even more exciting opportunities for our creative industries and further inward investment is vital as we build back better from Covid-19.”

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Rendering of the new £200m the studios and associated creative and digital hub in the UK. (Credit: University of Reading.)