EMI Records to Sell Abbey Road Studios

In an attempt to reduce debt, EMI Records is selling the famed Abbey Road studios in London, best known as the site where the Beatles recorded a majority of their music from 1962 and 1969, reports the Financial Times.

With advances in music recording technology, large, full-scale studios like Abbey Road are now becoming obsolete and too expensive for companies to rationalize using. However, it still holds value as one of the only studios large enough to house a full orchestra.

EMI was bought out by Terra Firma in 2007 and has been looking for buyers for the property with hopes to raise tens of millions of pounds from the sale, according to the FT report.

It is currently unknown whether the Abbey Road brand name will be sold along with the studio.