Sky unveils plans to build new TV and film studio in UK
December 05, 2019 – British media and telecommunications conglomerate Sky has announced plans to build new TV and film studio in Elstree, Hertfordshire in the UK.
The new project, Sky Studios Elstree, will be developed by Legal & General, which will also provide part-financing for the project.
It will comprise 14 stages each covering an area of over 20,000ft² and facilitate the simultaneous production of several films and TV shows.
The 32-acre development will also feature production offices, a set construction workshop, a screening cinema, and advanced post-production and digital facilities.
The project, which will be backed by Sky’s parent company Comcast, will be developed in partnership with sister-company NBCUniversal.
Subject to planning consent, the development is scheduled to be completed in 2022. The project will create more than 2,000 new jobs in the region.
Sky group chief executive Jeremy Darroch said: “Sky Studios Elstree will play a pivotal role in bringing the wealth of UK and European talent and creativity to the world.
“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.”
Legal & General, which is finalising a detailed design of the scheme, plans to submit a formal planning application for the project in early 2020.
Legal & General Group CEO Nigel Wilson said: “This investment is a great match for backing our UK pension promises.
“Sky, NBCUniversal and Comcast are global leaders in entertainment which will bring the best out of the UK’s amazing pool of talent. L&G is thrilled to be playing a supporting role in this major production.”
Over the first five years, the scheme is expected to bring an additional £3bn ($3.8bn) investment in the creative production economy in the UK.