Ric Hampton, Regional Director of our Bristol and south region, spoke to Property Week about the current condition of the UK film and TV studio space market.
The article highlights the major expansions that have been announced at many established studio sites in recent years, such as Shepperton Studios in Surrey and Pinewood Studios in Buckinghamshire, with several smaller studios and converted warehouses also being used for productions. However, post-pandemic financial challenges for giants such Disney and Netflix, are raising questions over the UK’s need for the further major studio developments that are planned.
Whilst the astronomical growth seen post-lockdown has slowed, the market is still growing at a more mature rate. However, Ric warns that more challenges lie ahead for UK TV and film, explaining our lack of available trained film crew. He says,
“We're absolutely one of the world's leading places for film production, but if we haven't got the people on the ground to work on them it's going to have an impact on production.”
Ric continued to comment that, regardless of financial challenges in the market, the country is still very attractive for filming and the opportunities are great. He believes studios that are net zero in operation will give the UK the upper hand in securing contracts. "Studios are power-hungry beasts," he says.
“Everyone drives to site, so being operationally net zero and having electric vehicle charging infrastructure is going to be super-important. In a really competitive market, that's going to give someone the edge.”