The new fund aims to invest in a network of studios across the U.K. where production spend last year hit an all-time high. The U.K.’s growing status as one of the world’s leading film and TV production hubs and the ever-increasing demand for studio space has led to the creation of a new 500 million pound ($640 million) investment fund. The Creative District Improvement Company — founded by real estate developers Piers Read, producer of hit Brit comedies The Inbetweeners and Peep Show, and Jeremy Rainbird, who helped launch Sharon Horgan’s label Merman — was unveiled Monday to capitalize on the boom created by the likes of Amazon, Apple and Netflix. The fund is set to be invested in a network of film studios across the U.K., with the founders claiming that they aim to open “one million square feet of production space by 2024.” As part of the launch, the company unveiled
The Creative District Improvement Company (TCDI) and subsidiary operating company, Time + Space Studios, are to invest £500 million in a network of film studios across the UK. It is looking to take advantage of a studio boom generated by streaming giants such as Amazon and Netflix. The first investment will be a £50 million acquisition and planned improvement of Twickenham Studios. Recently the studio won an Oscar for its sound work on Bohemian Rhapsody, and a BAFTA for mixing work on 1917. TCDI will also develop educational partnerships with the likes of Kent University. This is intended to bridge the skills gap in the economy. The acquisition and improvement of Twickenham Studios will include an expansion into Liverpool and should boost the local economy as well as create revenues. Further investments into studio spaces in Kent and Liverpool are planned, which will provide more jobs in
Preferred bidder for site shelved plan due to Brexit but rival still keen as studio demand booms Stalled plans to build a Hollywood-style studio in Dagenham East have been thrown a lifeline, with a backer offering £179m to get the first new TV and film studio built in London in 25 years. The project has been in doubt after a developer put proposals on hold indefinitely, citing Brexit uncertainty. However, another party with support from Netflix and a Hollywood film company has said its bid still stands and that the project can survive the EU-UK melodrama. “Our offer, our bid, is still there,” said Piers Read, the co-founder of the Creative District Improvement Company (TCDIC), which lost out last year when Barking and Dagenham council picked the Los Angeles-based developer Pacifica Ventures. “We hope to go back in and see it to fruition. The demand for filming in this country
It’s the longest listed building in Britain and it has been derelict for more than 20 years. But bold new plans have been revealed that could turn Ashford’s former railway works into Britain’s answer to Hollywood – a production base for big broadcasters like Netflix. The project could provide a huge boost to the town and wider community, creating jobs for more than 3,000 workers. The development will also include residential apartments and a hotel. Tony Green reports.
Video streaming giant Netflix is set to make new film and TV studios in Ashford its UK base, KentOnline understands. Mark Quinn of Quinn Estates is hoping to transform derelict engine sheds on the former railway works in Newtown Road into seven state-of-the-art studios. The prolific developer says he is in discussions with a number of international content providers and is unable to confirm or deny which firm is moving in. But it is believed subscription service Netflix – which is looking for additional studio space across Europe – has its sights set on the 12-acre plot. The online giant has millions of subscribers worldwide, with viewers able to stream films and programmes to devices including TVs and mobile phones. As well as making Hollywood hits available for subscribers to stream, Netflix also makes its own productions – something which could happen in Ashford if the bold project goes ahead. The
London Borough of Barking and Dagenham has agreed to find £3.4m to keep development work going on a planned film studio complex after its California-based preferred partner for the project got cold feet. Pacifica Ventures, the film studio developer, had an exclusivity agreement with the authority over the redevelopment of part of the former Sanofi pharmaceuticals site in Dagenham after it was selected last year. But the exclusivity deal has ended and borough regeneration chiefs said Brexit uncertainty was to blame for the company’s decision not to push ahead to the agreed timescale. A meeting of Barking and Dagenham’s cabinet was this week told there was “very strong” demand for studio space in the capital and sought consent to commit up to £3.4m from the council’s investment and acquisitions budget to fund design and development work on the project. A report to cabinet members said the funding would cover the