Abbey Road Not For Sale

After a week of reports indicating EMI was looking to sell Abbey Road Studios, the record label now says the historic piece of musical real estate is not for sale.

The label issued a statement during the weekend saying it wasn’t selling the studio, and was working with a third party to help rejuvenate the property.

“In response to recent press speculation, EMI confirms that it is holding preliminary discussions for the revitalization of Abbey Road with interested and appropriate third parties,” a company spokesman said in a statement, according to the BBC, adding that the studio had been losing money and that revitalization plans would involve “a substantial injection of new capital.”

The label also said it had turned down an offer to buy the studios last year.

“In mid-2009, we did receive an offer to buy Abbey Road for in excess of £30 million ($46.4 million) but this was rejected since we believe that Abbey Road should remain in EMI’s ownership.”

Photo: AP Photo
Graffiti are seen on the wall of Abbey Road Studios, seen in background, in London.

The Financial Times, citing unidentified sources familiar with the matter, reported early last week that EMI was shopping the studio to potential buyers. Since then, Paul McCartney urged the National Trust to save the studio while composer Andrew Lloyd Webber even indicated he might buy the place where many classic albums, including Pink Floyd’s Dark Side Of The Moon and The Beatles’ Abbey Road, were recorded.

Click here for the complete BBC report.