The studio group is consulting with local and national stakeholders and producers, looking at issues including space, and what to do with the adjacent land following the planning refusal of Project Pinewood.

Pinewood Studios today unveiled consultation talks concerning future development of the company with both local and national stakeholders, producers and developers.

The studio group admitted that without major investment it would “struggle to remain globally competitive and respond to the changing needs and ever increasing demands of the screen and digital industries.”

Commenting on the future development consultation, Ivan Dunleavy, chief executive said: “Our business again delivered record operating results during 2011, yet Pinewood and the UK were unable to satisfy the rising demand last year from the audio-visual sector.”

The consultation will look at the development of the studio over the next 20 years, considering the need for stage and studio space, innovation, technology and television broadcast facilities on both the existing site and the adjacent land holding, which was recently the subject of a planning refusal for the Project Pinewood scheme.

Business Secretary Vince Cable remains hopeful:If Pinewood Studio’s expansion plans take place it will significantly enhance the UK’s ability to succeed in a highly competitive market and ensure that the UK continues to be one of the best destinations in the world for film making.”

Dunleavy added: “We must respond effectively to the growing demand and compete on an equal footing; otherwise Pinewood will fall behind its international competitors.”