New “world-class” film and TV studios to be built in UK
Details
Joseph O'Halloran
| 03 August 2021
In development that would see the creation of a hub for UK and international productions Blackstone Real Estate Partners and Hudson Pacific Properties have announced plans to create a major new centre for film, TV and digital production 17 miles north of central London.

The new project is a continuation of Blackstone’s existing joint venture with Hudson Pacific, a leading Los Angeles-based office and studio owner and operator.

Blackstone and Hudson Pacific already own a media portfolio that totals 3.5 million square feet, including 35 active sound stages and on-site creative offices, as well as development rights. Sunset Studios has hosted some of the biggest small and big screen hits including When Harry Met Sally and La La Land as well as numerous Academy Award winning films.

Funds managed by Blackstone and Hudson Pacific have now acquired a 91-acre site in the are of Broxbourne, Hertfordshire , through a joint venture for £120 million. The acquisition, with an expected total investment of over £700 million, will be the partners’ first expansion of their Sunset Studios platform outside of the US. The proposed development, which is subject to planning permission, could, if realised, create over 4,500 permanent jobs for and contribute more than £300 million annually into the local economy.

"We are excited to expand our partnership with Hudson Pacific into the UK, and intend to deliver a world-class studio facility that will help ensure that the UK continues to be a premier destination for content production globally,” commented James Seppala, head of Blackstone Real Estate Europe. “This is a continuation of our thematic investment focus and long-term conviction in media, entertainment and content creation.”

Hudson Pacific chairman and CEO Victor Coleman added: “We are thrilled to expand our Sunset Studios platform in the UK, a global hub for film and television production. With our expertise developing and operating state-of-the-art media campuses and Blackstone’s resources and existing market presence, we are confident this facility will be in high demand from leading content creators. We look forward to working with Broxbourne Council to ensure the project has a meaningful positive impact on the local community.”