Valleywood

faraldo

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So - from the launch of a new 330 million film studios in Wales in 2005 by Sir Richard Attenborough with (now) four stages, offices which also had money from the EU and the Welsh Assembly. It was to have twelve sound stages initially.

quote;

Six years after the project was first proposed and nearly four years after planning permission was granted, construction work started on the first phase of the scheme in August 2007. In March 2008, due to a dispute with a creditor, Administrators were called in to resolve the financial situation, with liabilities of £15 million.

 

Filming for the first film, Ironclad, started in October 2009, starring Paul Giamatti focusing on the great siege of Rochester Castle when, following the signing of the Magna Carta, King John gathered an army to reclaim his power and exert bloody revenge on those who defied him.

 

In March 2011, administrators revealed that the site may have to be sold if the studios could not attract more film projects

So much can be explained by the crash/credit crunch - but why invest such massive sums of money in such a big building project when so little film production had been pre-financed ? Sounds wildly optimistic.

Ealing and Hammer and Borehamwood had relatively small stages - Bray (Hammer) was tiny.

quote;

Administrator Rob Lewis, a partner at Price Waterhouse Coopers, said: "They did take longer to develop than was originally envisaged and, when they came available for use, the market for property and making films had moved quite significantly

Which means (I think) that there are the usual plans to build more houses and shopping precincts,etc. - as with Pinewood.

The idea was that Productions could be lured away from London - but what is the evidence that it could have kept 12 stages busy?

One film for 330 million - is this the most expensive film ever made in Wales ?!

Just what was the business plan and why so much borrowed money ? Surely this was a massive risk (unjustified gamble) even in before the recession?
 
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