A contractor responsible for a £600m Hertfordshire film studio has stood down its supply chain, as the development comes to a halt.
The owners of Hollywood’s Sunset Studios, Blackstone and Hudson Pacific, purchased the 90-acre site in Broxbourne to expand its filming and production capabilities on the other side of the pond.
They had signed pre-construction agreements with contractor ISG late last year.
The site had already been levelled by groundworks contractor Erith with construction expected to begin earlier in the spring.
A supplier told the Construction Enquirer that they had received notification from ISG that all processes are on hold.
The project may not start until next year according to suppliers, although no official statement regarding timelines has been released.
It is believed that the project is under review amid high cost inflation and rising interest rates.
The 2 million sq ft complex was originally expected to be completed within two years, with the construction of four main hubs which included 21 sound stages, nine workshops, and ancillary buildings.
According to the Construction Enquirer, ISG said in an email to subcontractors that it will provide an update as soon as it has greater clarity on a revised programme schedule.