A meeting of the council’s Corporate Scrutiny Committee heard that proposals are “moving forward”, just slowly.

Questions were asked about the progress of plans to sell council-owned land, known as Kingston Marine Park, in East Cowes, to Medina Studios.

A decision to sell the site was approved by the council in November 2022 but has not yet gone through.

The Scrutiny Committee requested an update at a meeting earlier this month.

The councillor in charge of culture and leisure, Julie Jones-Evans, said negotiations are progressing and “as soon as we are able to share what has been agreed, we will.”

She said she will provide another update at the next meeting in September, adding: “I’m trying to get this over the line”.

The council hopes final terms will be agreed and contracts exchanged imminently.

As previously reported, Duncan Heath, David Godfrey and Neil Blewett, who all have experience in the film and TV sectors, are behind the proposal for the site.

Medina Studios is being marketed as a “state-of-the-art studio space designed for the 21st Century. Built on 14 acres of river frontage, this facilty will be home to the island’s first screen-based media hub.”

The council hopes Medina Studios will be in a position to submit a planning application for the site this summer.