The BBC is promoting its Elstree Centre – together with the well-known EastEnders set – because it continues to search out methods to make thousands and thousands in financial savings.
The BBC has exchanged contracts with Axa Investment Managers for the 16-acre web site in Hertfordshire, which incorporates seven levels in addition to workshop, workplace and post-production services.
However, the company has agreed to lease a part of the studio campus for 25 years – that means EastEnders will nonetheless be filmed on web site.
BBC Elstree Centre was the primary of a number of comparable complexes within the space, that are collectively often known as Elstree Studios.
The worth of the sale has not been revealed, however the broadcaster is at the moment trying to discover £500m in annual financial savings. It was reportedly on the lookout for £70m, in line with a BBC information report.
Alan Dickson, the BBC’s chief monetary officer, mentioned the sale was a part of an ongoing assessment of the BBC’s property portfolio in an effort to present one of the best worth for licence charge payers.
“As part of the sale, the EastEnders site has been secured on a long-term lease and Elstree will continue to be the home of Albert Square,” he mentioned.
“Moreover, AXA’s investment ensures the Elstree site remains a fantastic asset for the UK’s creative economy.”
The sale comes two years after the BBC completed rebuilding the EastEnders set at a value of £87m, which was £27m over funds.
Last summer time, Oscar-winning composer Hans Zimmer purchased the company’s well-known Maida Vale Studios in London in a partnership with three movie producers.
And in November it was introduced that Newsnight was being lower by half-hour and shedding greater than half its workers.
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BBC Elstree Centre was initially created as a movie studio for Neptune Films in 1914 and transformed to be used as a tv studio in 1960.
It was offered to the BBC in 1984 because the manufacturing base and set to launch EastEnders and has beforehand been used for exhibits together with Children In Need, Casualty, and Top Of The Pops.
The wider Elstree Studios is without doubt one of the world’s most well-known movie and tv manufacturing campuses on the earth, the place blockbusters corresponding to Star Wars have been filmed, and isn’t included within the sale.
John O’Driscoll, international co-head of actual property at AXA IM Alts, mentioned the corporate aimed to proceed the legacy of manufacturing “celebrated films and television series”.
“With the signing of BBC Elstree Centre we will be acquiring one of the oldest working TV and film studios in the UK, with a history dating back almost 110 years,” he mentioned.
“The structure of the transaction allows the BBC to continue its production on the site for at least another 25 years, while providing us with the opportunity to invest in the site to create new world-class studios.”
Mr O’Driscoll mentioned the transfer was “underpinned by increasing demand from an ever-broader array of production houses, content creators and broadcasters”, coupled with a restricted provide of high-quality fashionable movie and manufacturing house, “particularly in and around London where new construction is hindered by a lack of available land in the right locations”.
Source: information.sky.com”