Sir Paul McCartney: Abbey Road studios must be saved

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The record company's private equity parent Terra Firma is said to want tens of millions of pounds for the studios in St John's Wood - made famous by the eponymous Beatles album and zebra crossing cover shot.

Sir Paul, who recorded songs at Abbey Road with the Beatles from 1962 to 1969, said: "I have got so many memories there with the Beatles. It is still a great studio.

"There are a few people who have been associated with the studio for a long time who were talking about mounting some bid to save it. I sympathise with them. I hope they can do something, it'd be great."

The sale would help EMI to pay some of the mammoth debts with which it was saddled after Terra Firma's highly-leveraged 2007 takeover. It posted a £1.75 billion loss for the year to March 2009 in accounts earlier this month.

The music group bought the property for £100,000 in 1929 to create the studios that have hosted artists as diverse as composer Sir Edward Elgar, who recorded Land Of Hope and Glory with the London Symphony Orchestra there in 1931, to Pink Floyd and Blur.

However, recording advances and cheaper overseas studios have added competitive pressure to Abbey Road.

Terra Firma was last week reportedly looking for investors to pump £120 million into the business as it seeks capital. It is almost certain to breach lending terms without further investment, handing control to lender Citigroup.

Another round of cost cutting its also understood to be in store as the group taps investors for cash.

EMI's chief executive, Elio Leoni-Sceti, is believed to be drawing up plans to strip millions of pounds from the company's costs and rapidly grow the group's digital operations.

The group did not comment on any sale of Abbey Road or if it was part of a wider asset sale. EMI has looked to exploit the Abbey Road name in recent months, last November launching a service called Abbey Road Live, offering fans a way to buy instant concert recordings at venues.