EMI rejects Abbey Road sales talk

After days of heated speculation over the fate of the Abbey Road site, made famous by the Beatles' eponymous album, EMI released a statement yesterday saying the studios should remain under present ownership.

The firm, which is owned by private equity parent Terra Firma, revealed it had already rejected an offer for the historic building last year.

EMI did however say it was in talks with "interested and appropriate third parties" about funding a "revitalisation" project for the studios.

The production company, which also welcomed reports that English Heritage was accelerating plans to list the site, said discussions have been held over the regeneration plans since November.

"At all times, these plans have focused on providing access to artists and, where possible, members of the public," the firm said yesterday.

"In mid-2009, we did receive an offer to buy Abbey Road for in excess of 30 million but this was rejected since we believe that Abbey Road should remain in EMI's ownership."

Reports that Abbey Road could be sold led to an outpouring of public concern for the studios last week.

Facebook petitions to save the site garnered thousands of signatures, the National Trust said it would look into buying the property and even musical supremo Andrew Lloyd Webber expressed an interest in owning the studios.

But EMI insists that while it is looking for an investor in the site, based at number 3 Abbey Road in St John's Wood, London, it is not looking for a buyer.

"In response to recent press speculation, EMI confirms that it is holding preliminary discussions for the revitalisation of Abbey Road with interested and appropriate third parties," the statement said.

"We have developed plans to revitalise the studios. These plans would involve a substantial injection of new capital."