Streaming powerhouse Netflix has struck a deal with global asset management company Aviva Investors to operate and expand the Longcross Studios complex in Surrey, U.K.
Aviva Investors, which is part of Aviva plc, previously co-owned the 380 acre site with joint partner Crest Nicholson. The new deal will see Netflix will take a long-term lease of the 72-acre film and production facility on the site while Aviva Investors have acquired the remaining £45 million ($61.5m) stake from Crest.
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The historic studio boasts a 150-year-old manor house, four main stages, 200 acres of backlot, a two-and-a-quarter mile test track and an off-road course.
Among the productions to have been shot at Longcross are films from the James Bond and Marvel Cinematic Universe franchises, some of the “Star Wars” television series and ITV’s “Broadchurch.”
The partnership is “expected to significantly increase the breadth and calibre of production facilities,” according to the parties.
“We are delighted to announce the expansion of our production presence in the U.K.,” said Anna Mallett, Vice President of physical production, EMEA/U.K., at Netflix. “The new lease at Longcross highlights our commitment to investing in the UK creative industry and will provide a wealth of opportunities and production jobs, from entry level to heads of department. We’re excited to work with some of the best storytellers in the business to create amazing new films and series for our members.”
“We are very pleased, not only to increase our investment in Longcross and the UK’s creative industry, but also to grow our relationship with Netflix and bring a world-leading business to the region and further our strategy of actively targeting unique opportunities in this sector,” said Aviva Investors’s head of development, global real estate, James Stevens. “It is exciting to see such a large global brand and pioneer in the digital entertainment industry demonstrate a strong, long-term commitment. We are confident that Netflix’s presence at Longcross will further cement it as a leading studio and create a truly world-class production centre for the British film industry. Moreover, this project will increase the depth and breadth of local employment opportunities, whilst also creating value for the UK pension schemes that make up a large proportion of our investor base.”
Aviva Investors recently let two buildings in Park Royal, North West London, which will soon become a 62,000 sq ft film studio complex called Garden Studios.
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