The team behind the Twickenham Film Studios redevelopment - Time+Space Studios - has announced the project will have a £15 million budget.

The scheme is designed to build on the rich heritage of the studios, which played a crucial role in some of the most iconic Hollywood and British films and TV shows ever made.

Just this week, the studios has celebrated its part in creating the sound for the new Tom Hanks Western, News of the World, released on Netflix.

The film has had multiple award nominations including a number of Golden Globes and an incredible 12 BAFTA nominations, including Best Film, Best Director, Best Actor, Best Supporting Actress and Best Sound.

Richmond itself has been chosen by many film and TV companies as the backdrop for some of the biggest award-winning productions of recent years, from Fleabag to Bridgerton.

Cara Sheppard, the studios' newly appointed managing director who recently joined from Warner Brothers De Lane Lea, said: "Twickenham Film Studios has a rich heritage, having made some of history's most iconic Hollywood and British films and TV shows.

"The redevelopment is such an important turning point for our iconic studio, the significant investment in the regeneration and expansion of the site and its facilities will enhance our whole studio campus.

"We are investing heavily into securing the best industry talent as well as the latest technologies that combined will ensure the next chapter for Twickenham Studios is even more successful than the last."

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A planning application has been lodged with Richmond Council. If successful, the project is expected to begin in 2021 with an ideal completion date in October 2022 and will serve as a creative hub for the St Margarets community.

Twickenham Nub News revealed last week that the application has received overwhelming public support from residents.

Central to the transformation will be the construction of a new entrance building on the St Margarets Road at its junction with The Barons.

It will include a café and heritage centre open to the public, which will allow people to understand the remarkable part the studios have played in the British film industry and the many famous and successful films it has been involved in from silent movies through to Netflix.

There will also be a new hub for the creative industries in the area with workspaces for rent, which will bring people together. Significantly, there will be a new TV studio with audience seating for up to 150 people, together with refurbished film and sound production studios.

Some of the existing buildings will have an extra storey added to the roofline, but the new building and redevelopment will be within the existing boundaries of the studios.

Teams at the studios ,which were established in 1913, have won a host of awards including an Oscar for sound on Bohemian Rhapsody and a Bafta for sound mixing on the World War One drama, 1917.

Managing Partners Piers Read and Jeremy Rainbird, who acquired the studios in February 2020, said: "This is the evolution of Twickenham Film Studios into a truly world-class tech and innovation campus in London building on over a century of film history. From script to screen, the expansion means we can welcome even more productions, film makers of all levels, who will call the new campus "home".

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"The physical enhancement of the campus not only talks to the heritage of the buildings but will see a continuation of our investment into cutting-edge facilities and best in class production workflows centred around sound, picture, and film studios. We can't wait to welcome even more producers to Twickenham as the content revolution goes from strength to strength."

Guy Hollaway, architect from Hollaway Studio, who created the design, said "We are excited to be working on such a historic site and one that has contributed so immensely to the film industry as we know it today.

"Working with innovative materials such as the pigmented concrete will allow us to design an entrance with a playful façade that not only enhances its historic setting but also pays homage to the events happening beyond. We look forward to helping Twickenham Film Studios embrace its history and build on its existing award-winning facilities."

The scheme is being part-funded by General Projects, which is London real estate developer, and British Airways Pension Fund.