The economic boom of the film and TV sector in the UK is putting immense pressure on the availability of studio space.
Netflix, which last year spent over £400m making films and TV series in the UK, has signed a long term lease with Shepperton Studios. Disney has all but taken over Pinewood Studios. If a producer wants to book a studio shoot and/or a take a studio base in the UK, space is at a premium.
Showing terrific entrepreneurial flair, several of our clients have, or are considering, converting various properties, such as warehouses and barns, into studios.
This week Blackhall Studios based in Atlanta USA, announced it is building a £150m major production complex in Reading, Berkshire. The studio, which will become the third largest in the UK, will create 1500 jobs and support a further 3000 jobs. Blackhall has been involved in blockbusters including Jumanji: The Next Level, Godzilla and Venom.
The UK remains highly attractive to production companies as it encompasses, a generous tax incentive in the form of UK film tax credits; an enviable array of filmmaking talent; a generally comfortable social culture; and a stable economic environment.