FulwellCain Studios, a joint venture between global entertainment company Fulwell 73 and Cain International, has unveiled plans to build the Crown Works Studios on land stretching up from Pallion Shipyard on the banks of the river Wear.

The studios backers hope to begin construction as early as this year on a three-phase programme although this is dependent on government support and subject to planning processes.

During a four-year build, the partners aim to create 1.7m sq ft of studio space that will include up to 20 sound stages, along with production buildings and workshops.

The ambitious plans have been described by city leaders as ‘the single most significant development announcement to come out of the North East in decades.

Local councillors hope the studios will transformation the city’s economy, on a scale not seen since Nissan’s investment in Sunderland in the 1980s.

Leo Pearlman, managing partner at Fulwell 73, said: “Fulwell is a company built on family and the North East is embedded in our DNA.

“For over 100 years my family had a business here in Sunderland and called this great City home, so to be able to bring Fulwell back to where the inspiration for our global entertainment company began is a truly humbling experience.”

The project is supported by Sunderland City Council, which has brought together a number of key partners to work with the investors to shape plans including around the development of the skills-base needed to support the scheme.

The scheme is in addition to already announced plans for Shipyard Studios which will support a wider cluster of film and media activity.