Billionaire Island resident buys Pinewood Studios

Peel Holdings, owned by John Whittaker, has purchased the studios at the value of £96m.

A business owned by an Island resident has bought Pinewood Shepperton Studios.

Peel Holdings, owned by John Whittaker, has purchased the studios at the value of £96m.

The studios have been used for filming some of the world's biggest movies, including Harry Potter and James Bond.

Property and infrastructure firm Peel Holdings increased its offer by around £8 million in the face of rival takeover interest from former Harrods owner Mohamed al Fayed.

The business is understood to be planning an ambitious £20 million Project Pinewood expansion at its studios in Buckinghamshire that will see it build new facilities and sets on a par with those found in Hollywood.

Mr Whittaker, who lives in the Billown Mansion in the South of the Island, chairs the company which also owns John Lennon Airport and MediaCity in Salford.