All Together Now: Abbey Road Is Not for Sale

(Feb. 22) -- Sir Paul McCartney can put his wallet away, assuming he had it open in the first place. Andrew Lloyd Webber, of "Phantom of the Opera" fame, can look for another project to save with his Broadway dollars.

The reason: Abbey Road, it finally turns out, is not for sale.

Ending much speculation, the struggling EMI Studios has said in a statement that the West London icon made famous by the Beatles would remain under its ownership, the BBC reported.

The company said it rejected an offer for the Georgian-era building last year and would now focus on "revitalizing" the property, which would require "a substantial injection of capital."

Unconfirmed news reports saying the studio was up for sale had caused a public outcry. As a result, the English Heritage organization, which works to save historic and cultural sites, stepped in and said it would try to halt any sale that would turn the building into apartments, The Times of London reported.

McCartney said last week in a BBC interview that he was aware a "few people who have been associated with Abbey Road for a long time" were talking about making a bid to save the studio, which gave its name to the last album the Beatles recorded, in 1969. As the Beatles were among those with the longest connection to the studios, there was speculation that Sir Paul might be one of those about to step in to save them.

Two days later, a representative for Lloyd Webber said the musical theater composer was "very interested in buying Abbey Road Studios." He recorded most of his musicals there, from "Jesus Christ Superstar" to his latest, "Love Never Dies," the representative added.

The studios also played host to Pink Floyd, early-'60s pop star Cliff Richard and English classical composer Sir Edward Elgar.

The chairwoman of English Heritage, Baroness Andrews, said Sunday she would recommend that Abbey Road be listed as Grade II, which would make it difficult for developers to make significant changes, the London Times reported.

She said the trust had received enormous public support to save the musical icon. If the baroness has her way, Abbey Road will join British landmarks like Stonehenge and Hadrian's Wall as protected cultural properties.