Sunderland Crown Works film studios: minister's big promise to make 'hugely ambitious' vision a reality

Wearside-born business secretary Jonathan Reynolds has promised to do “anything” in his power to help put the flagship development back on track, following a commitment from Sir Keir Starmer last week that it had the Government’s full backing.

It emerged earlier this summer that financiers Cain International, the main private investor behind the £450 million regeneration, had pulled out of the scheme to transform a site on the banks of the Wear into a huge film and TV production hub.

The search is now on for new investment to allow the project, which it had been claimed would create more than 8,000 jobs, to go ahead as planned.

Global entertainment company Fulwell Entertainment, who had partnered with Cain on the joint venture, said it remains committed to the vision and working with Sunderland Council to find new funding.

Speaking to the Local Democracy Reporting Service (LDRS) on a visit to the Ikea store in Gateshead on Friday, Mr Reynolds called the Crown Works a “hugely ambitious and exciting programme”.

The business secretary, who is from Houghton-le-Spring, said: “I obviously know Leo [Pearlman] and the guys at Fulwell73 really well. I loved to see that scale of ambition, I think it got everyone’s attention because of it.

“There has been a significant amount of Government money pledged, so we are not just there with verbal support – we have put money in to do it. But obviously a substantial project like that requires a large amount of capital, private capital, investment and I know the team are working very hard to secure that. Obviously the majority of funding for the project will come from the private sector.

“But anything that we can do or I can do personally or the Government can do to support that process, we are committed to doing it. I want to see, not just in my hometown but across the UK, that scale of ambition to the future and I think the offer Leo is making there and the transformational impact that could have is why it is so exciting.”

The Prime Minister told the LDRS last week that Downing Street “will do everything we can to see this project come to fruition”.

The Government has already put £25 million into the Crown Works plans, via the devolution deal which established the North East mayor last year, while the local authorities have committed to a total public investment of up to £120 million.

Asked if he would personally join potential investors alongside North East mayor Kim McGuinness and the council, Mr Reynolds added: “Of course. We do that on a daily, weekly basis as well. The Office for Investment, which I sponsor alongside the Chancellor, is really active and it has significant extra capacity since the election; we have done some quite major changes to give it the chance to do that.

“We are always talking to potential investors, either because they are coming with a proposition they want us to support or they have an idea and want to know which bit of the UK might be the right palace to do that.

“Absolutely, that is a core part of the job on a whole range of projects, not just one as exciting as this.”