Following the current information that Hackman Capital Partners (HCP) has invested in constructing Eastbrook Studios, the worldwide actual property and working firm has now confirmed it’s funding a second London filming facility, additionally within the borough of Barking and Dagenham.
The two studio websites – with 18 sound phases in whole – are anticipated to carry as much as a mixed £350m into the realm, and the potential for over 1,800 new jobs. HCP additionally plans to speculate closely in coaching and academic programmes within the native space.
Last 12 months, HCP and Square Mile Capital introduced plans to construct Eastbrook Studios – the capital’s largest film and TV manufacturing centre – in Dagenham. The new, second deal, will see the signing of a ten year-lease with Barking and Dagenham Council for two current warehouses alongside the River Roding in Barking, which shall be transformed into studios, to be generally known as The Wharf.
The Wharf’s ten-acre website will complement the bigger Dagenham Eastbrook Studios advanced, offering six new sound phases with related manufacturing workplaces and workshop area. The studios are anticipated to open earlier than the principle Eastbrook advanced and may very well be out there for filming in autumn this 12 months.
Adrian Wootton OBE, chief govt of Film London and the British Film Commission, commented: “There might by no means be a greater time to open new studio area within the capital. Despite COVID, London and the UK’s film and TV trade is flourishing. Industry restoration within the ultimate quarter of 2020 generated £1.19 billion spend for film and high-end TV, the second highest three-month spend on document. The demand is there – and rising.
“We simply want the studio area to match it, which is why right this moment’s announcement of further sound phases in east London by autumn is just not solely welcome, however extraordinarily well timed. Film and high-end TV can assist drive London and the UK’s financial restoration, offering UK plc with billions of kilos, supporting lots of and 1000’s of jobs and bringing regeneration and progress to areas like Barking and Dagenham.”
Cllr Darren Rodwell, Leader of Barking and Dagenham Council, mentioned: “This is incredible information and is one other signal of the large confidence in our borough, London and the UK from HCP, who’ve already made an enormous dedication to constructing Eastbrook Studios and are actually increasing to The Wharf. “Their resolution to put money into The Wharf is one other increase for our borough and London, that means extra jobs and alternatives for native folks. We is not going to solely be capable to say motion pictures shall be Made in Dagenham however in Barking too!”
Minister for funding, Gerry Grimstone, added: “Brilliant information for Barking and Dagenham and with an additional dedication from US investor Hackman Capital Partners in direction of boosting the native financial system, driving regeneration and showcasing the UK’s world-class film trade to the world. The Government is paving the best way for an investment-led restoration by way of our Office for Investment, freeports and measures to make sure the UK is the very best place to speculate and develop a enterprise.”
Pictured L-R: Cllr Rodwell with Lisa Dee, Head of Film LBBD, inside one of many warehouses at The Wharf. Individual photograph: Cllr Rodwell.
