X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-A local council has given the go-ahead for the biggest single leisure development in Welsh history, the £1 billion ($1.57 billion) Dragon International film studio complex.

Dragon International Studios is headed by one of the best known names in Britain’s show business, actor/director Lord Richard Attenborough, and comprises a consortium of businesses and financial backers.

The aim of the developers is to establish a former opencast mine in Wales as the heart of Britain’s film industry. The centrepiece of the development will be film studios built on 160 acres and modelled on Universal’s one in America.

But the studios are only a small part of the 760-acre development on the edge of some of the country’s most deprived and derelict areas. Other proposals for the site, just south of the Rhondda Valley, include a golf course and club, restaurants, a six-screen multiplex cinema, a hospital and hotel, health spa, shops, and business parks. The complex will also include a film academy, 10 five-star celebrity houses and a bank of apartments, a spa to relax in and an “outdoor water-based attraction”.

A new junction off the M4 motorway will also be created further opening up the Welsh valleys to development and regeneration. The agreement by the developers to provide the junction was a key factor in the decision of Rhondda Cynon Taff council to give the go-ahead for the development.

The Welsh Assembly last May ruled that the scheme’s creation of an additional M4 junction would contravene transport guidelines and ordered the council to reject the plans. But in October the assembly rescinded its objections to the scheme, and restored the council’s decision-making role on the application. This means there are unlikely to be any other major holdups to the development.

King Sturge is property adviser to Dragon International.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.