Thousands of jobs are set to be created by the development of a new TV and film campus in Hertfordshire.
The £700m development, set for a 91-acre site in Broxbourne, will be the first expansion of the Sunset Studios platform outside of the United States and is expected to become one of the UK’s largest production locations.
The proposed project is expected to create more than 4,500 jobs in Broxbourne and surrounding areas and contribute more than £300m annually to the local economy.
It will be developed by Blackstone Real Estate Partners, part of investment management company Blackstone, and Hudson Pacific Properties, a Los Angeles-based office and studio owner and operator.
Prime minister Boris Johnson said: “This investment is excellent news for the UK’s film and TV industry, pumping hundreds of millions of pounds into the local economy and creating thousands of jobs for the people of Hertfordshire. 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.”
Victor Coleman, chairman and CEO of Hudson Pacific, 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. We look forward to working with Broxbourne Council to ensure the project has a meaningful positive impact on the local community.”
The film and television industry supports more than 180,000 jobs in the UK, contributing more than £12bn to the economy every year.
Last year the government launched the Film and TV Production Restart Scheme to support productions that had been halted or delayed because of Covid-19 to resume.
The scheme, which has supported around 640 productions including Peaky Blinders and Midsomer Murders, is set to run until 31 October 2021 and has secured more than 55,000 jobs.