The fans of Sherlock and Dr. Watson might already doubt the possibility of "Sherlock Holmes 3" but it looks like the long-awaited third installment is happening after all. Recently, franchise producer Lionel Wigram has revealed that a new "Sherlock Holmes" film is already in the works.

According to Mirror, "Sherlock Holmes" and "Sherlock Holmes: A Game of Shadows" producer Lionel Wigram has revealed that he is currently working on a new installment of the action mystery franchise. Wigram has reportedly unveiled that he has come up with 'a really good' concept for "Sherlock Holmes 3" alongside lead actor Robert Downey Jr. -who plays the titular role - as well as his wife, director Susan Downey.

"We're working on it. I think we have a really good idea, a good concept for it, and we're working on it with Robert and Susan and everybody," he said. "We've had many, many meetings and we have a really good writer who is engaged."

It was noted by Virgin Media that alongside Wigram, Susan has also produced both 2009 and 2011 films which co-starred Jude Law ("Black Sea", "Dom Hemingway") as Holmes' companion, Dr. John Watson, and Rachel McAdams ("The Vow", "About Time") as Irene Adler, the American femme fatale who outwitted Holmes twice.

However, the British film producer is still trying to craft the plot of the long-awaited sequel and will reportedly not helm the movie unless the storyline is "fantastic". "We're still trying to crack the story together," he explained. "For us, if we're going to do a third Sherlock Holmes, it has to be fantastic, so we have to be really confident that we can give the audience a story that makes them say, 'Wow, this was worth it, this was better than the last two.'

Meanwhile, Wigram has not mentioned further details about the movie, specifically its cast whose fans are already dying to know. As previously reported, Law has expressed his interest in returning as Dr. Watson, if ever the third film happens. But, the 42-year-old actor stated that he still was not approached by its producers. "There is apparently still a will [to do it], there is a script being written, but I'm not sure," he said.

There is still no confirmation also whether Guy Ritchie, who directed the two films, is returning to the director's seat. It is known that his "Sherlock Holmes" and "Sherlock Holmes: Game of Shadows" smashed the box office earning $500 million each, with the second movie scoring $20 million more than its original film.

Though the details are scarce for now, at least the fans can now rest easy knowing that "Sherlock Holmes 3" is definitely happening.