Hollywood studio has announced plans for a £700m “world-class” film and TV studios facility in the UK.

The property which owners of Sunset Studios in Los Angeles and an investment firm have bought is a 91-acre site in Hertfordshire which costs £120m.

Subject to planning permission, the production centre would-be built-in Broxbourne, BBC reports.

The plan of the government is to “support” the development of such stage spaces across the UK.

In the words, Secretary of State for Digital, Culture, Media and Sport, of Oliver Dowden:

“This new studio is yet another vote of confidence in the UK’s booming film and TV industry.

“Through the British Film Commission, we’re supporting the development of stage spaces like this across the UK – boosting the local economy and backing our world-class creatives to make the next Bond blockbuster or bingeworthy box set.”