The Libertines are reportedly converting an old house into a studio complex in Margate, Kent.
The 'Can't Stand Me Now' group's frontman Pete Doherty and bassist Carl Barat had been waiting to obtain planning permission for their venture, which will also be a hotel and restaurant, and despite locals being concerned they will turn the quiet coastal town in south east England into a "party zone", it appears their plans are in full motion.
A source told The Sun newspaper: "This has been Pete and Carl's dream.
"They want it to be like Andy Warhol's New York studio The Factory, a creative space for them to record in, but also a fun pad for pals and the public to stay in.
"It's unnerved some of the locals who fear the band could turn the area into a crazy party zone."
Carl, 39, previously shared details of his and Pete's plans for the creative space.
He said: "We're jumping through hoops - the last thing we're waiting on is getting the planning permission.
"If that goes through then we're in business and rolling with a place to make a record, place to rehearse, place to write, a place to do whatever we want really."
As for new music from the rockers, Carl previously teased that the follow-up to 2015's 'Anthems for Doomed Youth' will be very much in the vein of their debut album 'Up the Bracket' - which was released in 2002 - and that they are still chipping away at it.
He previously told BANG Showbiz: "We are working on the new record. We have a special plan for that actually. I can't really say anything about it, but it is really exciting and we are all in a really good place for that.
"The project we are looking at is pretty immersive and I think it will be more like how we were for our first record."