Elstree Studios expansion boosted by Â£2 million loan
Multi-million pound plans to expand Elstree Studios have taken a major step forward with a £2 million loan towards the project by the Hertfordshire Local Enterprise Partnership’s (LEP) Growing Places Fund.
The money will be used to clear four acres of land at Elstree Studios and construct new film and television production facilities – giving an economic boost for Hertsmere.
The remaining £2.5 million for the project will be provided by the council from its reserves, with work hoping to start on the site early next year.
Council leader and chairman of the board of directors at Elstree Studios, Morris Bright said: “I am delighted with the unanimous cross-party support given to this project by the council. This is the largest investment in the site in 15 years. Both the council and the studios are looking forward to moving ahead with this exciting project for the benefit of the media industry and the residents of Hertsmere.
“Elstree Studios are a key part of our local economy and a source of great pride to residents. Despite the economic downturn, the studios remain busy around-the-clock, and from next year will also be providing a home for the BBC and some of its most popular shows for the next two and a half years while the BBC Studios at White City are being rebuilt.”
Roger Morris, managing director of Elstree Studios, said: “This is excellent news both for Hertsmere and Hertfordshire. The additional production facilities will ensure that Elstree Studios remain one of the UK’s most popular studios for film and television production.
Estimates are the project will bring in at least a further £0.5 million per year for the studios, as well as creating jobs for the local community.
Elstree Studios has been home to films such as the Oscar winning The King’s Speech and Comes a Bright Day, as well TV shows including The Voice, Big Brother, Who Wants to be a Millionaire? and Dancing on Ice.
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