Sky has announced plans to build a new 14-stage TV and film studio based at Elstree.
The new 32-acre development is being backed by Sky with parent company Comcast, and in partnership with sister-company NBCUniversal. Legal & General will develop its site and provide financing for the project.
According to Sky, the new studio complex will lead to the creation of over 2000 jobs, generate an additional £3 billion in investment in the UK’s creative economy over the first five years, and house 14 sound stages. It will be in addition to the current campus at Osterley.
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 sq ft. Once complete, the site will include production offices, a set construction workshop, a screening cinema and what Sky describes as state-of-the-art post production and digital facilities.
The new studio space will also play host to major film productions from Universal Pictures, Focus Features and Working Title, and television series from NBCUniversal Content Studios. It will also have capacity to host productions from third party producers.
Sky said Sky Studios Elstree will work in close collaboration with Elstree Studios despite both studios being managed independently of one another.
Jeremy Darroch, Group Chief Executive, Sky, said: “Sky Studios Elstree will play a pivotal role in bringing the wealth of UK and European talent and creativity to the world. We know our customers love our award-winning Sky Originals like Chernobyl and our investment in Sky Studios Elstree will enable us to bring more unique stories to more viewers. We are proud to be working with our colleagues at NBCUniversal and Comcast, and our partners Hertsmere Borough Council and L&G to bring this project to life. Together we share a joint vision to create a world-leading production capability that will support the creation of thousands of jobs in the creative sector. We can’t wait to get started.”