Blackstone is working on a British-set sequel to its Sunset Studios jv, with plans for a £700m film an TV campus near London.
The production has already attracted a high-profile supporting cast, with prime minister Boris Johnson making a cameo appearance in the trailer to say the scheme was “excellent news for the UK’s film and TV industry”.
Blackstone’s Sunset Studios jv has paid £120m for the 91-acre site at Broxbourne, Hertfordshire, and will soon submit plans for a £700m film and television studio campus.
The deal is the UK debut for Blackstone’s team-up with Hudson Pacific, a Los Angeles-based office and studio owner and operator whose portfolio covers more that 20m sq ft in the US.
Together the duo own the 3.5m sq ft Sunset Studios media portfolio, including 35 active sound stages and on-site creative offices. Sunset Studios has played host to blockbuster hits including When Harry Met Sally, X-Men and La La Land.
Blackstone’s European real estate head, James Seppala, said: “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.”
He added that the scheme would mark “a continuation of our thematic investment focus and long-term conviction in media, entertainment and content creation.”
Hudson Pacific chair and CEO, Victor Coleman, said: “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.”
Prime minister Boris Johnson added: “The creative industries are at the heart of our plans to build back better. This will be a hub for both UK and international productions, showcasing home-grown talent on the global stage.”
Culture secretary Oliver Dowden said that the new studio was “yet another vote of confidence in the UK’s booming film and TV industry”.
“Through the British Film Commission, we’re supporting the development of stage spaces like this across the UK – boosting the local economy and backing our world-class creatives to make the next Bond blockbuster or bingeworthy box set.”
BNP Paribas Real Estate acted for the landowners of Park Plaza West.
