The British film studios group behind a raft of blockbusters including the James Bond series and Eyes Wide Shut plans to expand into Canada by building a £69m production studio in Toronto.

Pinewood Shepperton Studios,Buckinghamshire, run by Michael Grade - the former Channel 4 boss and chairman of Camelot, the National Lottery operator - together with directors Tony and Ridley Scott, is part of a consortium planning to spend the next two years building a huge facility on a derelict docklands site in the city.

The Pinewood consortium, which also includes a California-based real estate firm and a Canadian film production company, beat off a rival bid from O&Y Properties, a vehicle backed by the Reichmann brothers, developers of London's Canary Wharf.

The consortium is still waiting for planning permission, but Toronto mayor Mel Lastman promised that it would be fast-tracked.

Canada has become a popular destination for film makers in recent years because labour is cheaper than in LA.

The UK studios group was created last year through the merger of Pinewood and Shepperton, with the backing of venture capitalists 3i and Candover. Mr Grade led a buyout of £67m Pinewood from Rank in February 2000, while the Scotts bought Shepperton for £17.9m in January 1995.

Ridley Scott was the director of the multi-Oscar winning film Gladiator. Several television programmes are also filmed at Pinewood.