The BBC is promoting its Elstree Centre – together with the well-known EastEnders set – because it continues to search out methods to make tens of millions in financial savings.
The BBC has exchanged contracts with Axa Funding Managers for the 16-acre website in Hertfordshire, which incorporates seven levels in addition to workshop, workplace and post-production services.
Nonetheless, the company has agreed to lease a part of the studio campus for 25 years – that means EastEnders will nonetheless be filmed on website.
BBC Elstree Centre was the primary of a number of related complexes within the space, that are collectively often called Elstree Studios.
The worth of the sale has not been revealed, however the broadcaster is presently trying to discover £500m in annual financial savings. It was reportedly on the lookout for £70m, in accordance with a BBC information report.
Alan Dickson, the BBC’s chief monetary officer, stated the sale was a part of an ongoing assessment of the BBC’s property portfolio with the intention to present the most effective worth for licence charge payers.
“As a part of the sale, the EastEnders website has been secured on a long-term lease and Elstree will proceed to be the house of Albert Sq.,” he stated.
“Furthermore, AXA’s funding ensures the Elstree website stays a unbelievable asset for the UK’s artistic economic system.”
The sale comes two years after the BBC completed rebuilding the EastEnders set at a price of £87m, which was £27m over finances.
Final 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 minimize by half-hour and dropping greater than half its employees.
Maida Vale Studios was purchased by Hans Zimmer in 2023
Learn extra from Sky Information:
Undercover officers lure luxurious watch thieves into entice
Web site used for Hollywood movies earmarked for housing
BBC Elstree Centre was initially created as a movie studio for Neptune Movies 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 Youngsters In Want, Casualty, and High Of The Pops.
The broader Elstree Studios is likely one of the world’s most well-known movie and tv manufacturing campuses on this planet, 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, stated the corporate aimed to proceed the legacy of manufacturing “celebrated movies and tv collection”.
“With the signing of BBC Elstree Centre we can be buying one of many oldest working TV and movie studios within the UK, with a historical past relationship again nearly 110 years,” he stated.
“The construction of the transaction permits the BBC to proceed its manufacturing on the location for no less than one other 25 years, whereas offering us with the chance to spend money on the location to create new world-class studios.”
Mr O’Driscoll stated the transfer was “underpinned by growing demand from an ever-broader array of manufacturing homes, content material creators and broadcasters”, coupled with a restricted provide of high-quality trendy movie and manufacturing area, “notably in and round London the place new development is hindered by an absence of obtainable land in the fitting places”.
