Blackstone and Hudson Pacific Properties to create film, TV, digital production complex worth $1 billion in UK

In a statement Hudson Pacific Properties and Blackstone said, they plan on creating a major film, TV and digital production complex in Broxbourne, UK. The development marks the first overseas expansion of their Sunset Studios platform.

The two companies had earlier acquired a 91 acre site, for 120 million pounds; their total investment in this venture would be more than $975 million (700 million pounds).

Subject to planning permission, their would be world-class film and television studio campus, will create more than 4,500 permanent jobs.

Last year, Blackstone had acquired a 49% stake in real estate company Hudson Pacific’s Hollywood media portfolio, comprising 35 sound stages and offices, including the facilities where hits “La La Land” and “When Harry Met Sally” were made.

In a statement, Blackstone’s head of real estate Europe James Seppala said, both companies “intend to deliver a studio facility that would help ensure that Britain continued to be a premier destination for production”.

($1 = 0.7191 pounds)



Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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