Pinewood Studios in the United Kingdom, where blockbusters such as the Harry Potter series, Star Wars: The Force Awakens and a James Bond movie were shot, may soon be sold. Pinewood Group announced on Thursday that it had reached a draft deal worth $423 million (around Rs 2,800 crore) with a real estate firm for the sale of the iconic film studio, Reuters reported.

The company said in a statement that it has "reached an agreement...on key terms of a possible cash offer" with Venus Grafton, a subsidiary of PW Real Estate Fund. According to the draft deal, shareholders will receive 560 pence in cash for each share, in addition to a final dividend of 3.2 pence per share. Pinewood, whose market value dropped 5.17% at 550 pence after the announcement, said it will recommend a firm offer to its shareholders.

Pinewood Group owns television and film studios around the world, including in Canada and the United States, but the one built west of London remains the most iconic. Lara Croft Tomb Raider and The Da Vinci Code are among other widely popular movies that were shot at Pinewood Studios.