Comcast-owned media group Sky has announced plans to invest in building a new 32-acre TV and film studio at Elstree, north London, adjacent to existing complex Elstree Studios.
The proposed development is to be backed by Sky’s new owners Comcast and in partnership with sister-company NBCUniversal. Legal & General will develop the site and provide financing for the project.
Subject to planning consent, the 32-acre development is expected to open in 2022 and will be able to facilitate the production of several films and TV shows simultaneously, with each of the 14 sound stages covering over 20,000 ft2. Once complete, the initial site will include production offices, a set construction workshop, a screening cinema, post-production and digital facilities.
As well as facilitating in-house programme making for Sky, the new studio space will also host film productions from Universal Pictures, Focus Features and Working Title, plus television series from NBCUniversal Content Studios. It will also have capacity to host productions from third party producers.
Sky Studios Elstree will be situated in the Borough of Hertsmere. Legal & General are in the process of finalising a design of the scheme and expect to submit a detailed planning application early next year.
Nigel Wilson, CEO of Legal & General Group, said: 'Growing at twice the speed of the economy as a whole and accounting for over 2 million jobs, our creative industries are a key component of Britain’s bright future. This investment is a great match for backing our UK pension promises.'
Sky Studios Elstree will work in close collaboration with Elstree Studios, despite both businesses being managed independently of each other.