Council pulls plug on Mo-Sys Plumstead Power Station deal

Mo-Sys planned to refurbish the Grade II listed site, opening eight studio stages

By Matthew Corrigan

Published: October 17, 2024 Updated: October 18, 2024

Mo-Sys planned to refurbish the Grade II listed site, opening eight studio stages

target=_blank title=Share on LinkedIn class=share-linkedin> Mo-Sys planned to refurbish the Grade II listed site, opening eight studio stages

https://www.tvbeurope.com/business/council-pulls-plug-on-mo-sys-plumstead-power-station-deal title=Share via Email class=share-email>

A plan to bring Mo-Sys Engineering to the former Plumstead Power Station has collapsed, according to reports.

Under the terms of the proposal, the site would have become the new base for the virtual production services provider, which recently secured a strategic seed investment from global electronics company, LG Electronics.

Speaking at the time, Paik Ki-Mun, senior vice president and head of the Information Display Business Unit at LG Business Solutions Company, noted Mo-Sys's expertise in virtual production solutions.

According to The Greenwich Wire, Greenwich Council initially approached the company with a £4.2 million match-funding proposal, which would have brought 16 new jobs to the area. Mo-Sys planned to refurbish the Grade II listed site, opening eight studio stages.

In July last year it was reported that Pippa Hack, the town hall's director of regeneration, had informed councillors that an agreement was close . Mo-sys filed a planning application the same month and the council carried out improvements to the access road.

However, the council has unexpectedly pulled out of the deal, with the site placed on a list of properties for disposal which was agreed at a cabinet meeting on Wednesday October 16th. Speaking at the meeting, an officer for the council said the recommendations for disposal were, in line with the council's agreed property strategy that was adopted in 2019 and is currently being updated and will be considered by cabinet separately.

The decision leaves Mo-Sys looking for a new home as it has to vacate its Morden Wharf premises, which has planning approval for 1500 new homes, by February.

TVBEurope has approached Mo-Sys for comment.

Mo-Sys eyes up Plumstead Power Station studio

LINK:	https://www.tvbeurope.com/business/council-pulls-plug-on-mo-sys-plumst...
	See more stories from tvb

More from TVB Europe