Blackstone and Hudson Pacific Properties Announce Plans for New World-Class Film and TV Studios in the UK
Blackstone (NYSE: BX) and Hudson Pacific Properties (NYSE: HPP) plan to create a major new centre for film, TV and digital production in Broxbourne, Hertfordshire.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210802005278/en/
Artist Impression No. 1 (Photo: Business Wire)
Funds managed by Blackstone Real Estate Partners and Hudson Pacific Properties acquired a 91-acre site, 17 miles north of central London, through a joint venture for £120 million. The acquisition, with an expected total investment of over £700 million, will be the partners’ first expansion of their Sunset Studios platform outside of the US.
The proposed development, which is subject to planning permission, would transform the site into one of the largest world-class film and television studio campuses. The project is expected to create over 4,500 permanent jobs for Broxbourne and the surrounding community and contribute more than £300 million annually into the local economy.
This transaction is a continuation of Blackstone’s existing joint venture with Hudson Pacific, a leading Los Angeles-based office and studio owner and operator. Together, Blackstone and Hudson Pacific own a media portfolio that totals 3.5 million square feet, including 35 active sound stages and on-site creative offices, as well as development rights. Sunset Studios has hosted some of the biggest small and big screen hits including When Harry Met Sally and La La Land as well as numerous Academy Award winning films.
James Seppala, Head of Blackstone Real Estate Europe, said: “We are excited to expand our partnership with Hudson Pacific into the UK, and intend to deliver a world-class studio facility that will help ensure that the UK continues to be a premier destination for content production globally. This is a continuation of our thematic investment focus and long-term conviction in media, entertainment and content creation.”
Victor Coleman, Chairman and CEO of Hudson Pacific, said: “We are thrilled to expand our Sunset Studios platform in the UK, a global hub for film and television production. With our expertise developing and operating state-of-the-art media campuses and Blackstone’s resources and existing market presence, we are confident this facility will be in high demand from leading content creators. We look forward to working with Broxbourne Council to ensure the project has a meaningful positive impact on the local community.”
Prime Minister Boris Johnson said: “This investment is excellent news for the UK’s film and TV industry, pumping hundreds of millions of pounds into the local economy and creating thousands of jobs for the people of Hertfordshire. The creative industries are at the heart of our plans to build back better. This will be a hub for both UK and international productions, showcasing home-grown talent on the global stage.”
Oliver Dowden MP, Secretary of State at the Department for Culture, Media and Sport, said: “This new studio is yet another vote of confidence in the UK’s booming film and TV industry. Through the British Film Commission, we’re supporting the development of stage spaces like this across the UK - boosting the local economy and backing our world-class creatives to make the next Bond blockbuster or bingeworthy box set.”
Cllr. Lewis Cocking, Leader of Broxbourne Borough Council, said: “This represents a fantastic opportunity for the people of our borough. Creative Industries are of strategic importance to us and the creation of over 4,500 permanent new jobs and the associated boost to the local economy is just what we need following the pandemic. We look forward to working with Blackstone and Hudson Pacific to help deliver significant positive change in Broxbourne.”
Artist impressions of the proposed development can be downloaded here and here.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Hudson Pacific Properties
Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 20 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more. Hudson Pacific is publicly traded on the NYSE under the symbol HPP and listed as a component of the S&P MidCap 400 Index. For more information visit HudsonPacificProperties.com.
Notes to editors: list of notable productions that have been filmed at Sunset Studios include:
- Project Runway
- Scandal
- X-Men (2000)
- When Harry Met Sally
- Karate Kid
- I Love you, Man
- Zoolander
- La La Land
- Guess Who’s Coming to Dinner
- True Blood
- Fresh Prince of Bel Air
- Golden Girls
- Hannah Montana
- The Bridge on the River Kwai (Academy Awards Best Picture winner)
- Lost Horizon
- Six Feet Under
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005278/en/
Contact information
Media
For Blackstone
Paul Stephenson
Hanbury
paul.stephenson@hanburystrategy.com
Tel: 07725 610 696
Niamh Fogarty
Hanbury
niamh.fogarty@hanburystrategy.com
Tel: 07946 813 843
For Hudson Pacific Properties
Glesni Thomas
FleishmanHillard
glesni.thomas@fleishman.com
Tel: 07528 383 508
Julia Hipkiss
FleishmanHillard
julia.hipkiss@fleishman.com
Tel: 07827896036
About Business Wire
Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
New Study Evaluates the Feasibility of Using Masimo EMMA ® Capnography on Mechanically Ventilated Neonates27.9.2021 01:00:00 CEST | Press release
Masimo (NASDAQ: MASI) today announced the findings of a study published in the European Journal of Pediatrics in which Dr. Masashi Hotta and colleagues at the Osaka Women’s and Children’s Hospital in Japan found that the Masimo EMMA® Portable Capnograph “may be considered an effective monitoring device” for mechanically ventilated preterm infants (neonates).1 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210926005040/en/ Masimo EMMA® (Photo: Business Wire) Noting the importance of maintaining an appropriate range of partial pressure of arterial carbon dioxide (PaCO2) in preterm infants, especially while undergoing mechanical ventilation in the neonatal intensive care unit (NICU), the researchers sought to evaluate whether noninvasively monitoring end-tidal carbon dioxide (EtCO2) with EMMA could help clinicians maintain neonatal PaCO2 in the delivery room. They chose EMMA not only because of its portability but because it of
Spirit of Wipro Run Brings Together Participants From Over 35 Countries26.9.2021 14:57:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today organized the 16th annual ‘Spirit of Wipro’ (SOW) Run, drawing thousands of participants from over 35 countries to run together in spirit. For the past sixteen years, Wiproites around the world have come together to celebrate Wipro’s core values. The annual SOW run aims to inspire employees to be responsible citizens of the world. This year’s theme was “Together. To greatness,” inspired by the resilience demonstrated by Wiproites in a year of unprecedented disruption. Along with outperforming across all business parameters, Wipro teams have remained committed to supporting their colleagues and creating a lasting social impact across communities. Like last year, this year’s race was also virtual, and runners strictly adhered to the local COVID-19 guidelines and safety protocols while participating in the event. Even under these conditions,
Pencil Lab Inks Debut in ADIHEX 202125.9.2021 12:04:00 CEST | Press release
The 18th edition of the Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX) on September 27 - October 3 marks an opportune platform for Pencil Lab Design Studio’s first major participation in the massive event, the largest of its kind in the Middle East and Africa. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210925005016/en/ Pencil Lab Inks Debut in ADIHEX 2021 (Photo: AETOSWire) Featuring more than 800 brands and companies, the event is held under the theme of ‘Sustainability and Heritage… A Reborn Aspiration’, highlighting heritage, culture and authentic sports and their strong relation with Arab history. As part of its inaugural participation in a major exhibition as a company, Pencil Lab, a UAE initiative, will showcase their artworks with three large oil paintings by Pencil Lab’s citizen artist, to highlight the strong connection of arts, like painting and photography, to Arab history and civilization.
DXC Technology Completes Refinancing Actions24.9.2021 22:30:00 CEST | Press release
DXC Technology Company (NYSE: DXC) (“DXC”) today announced the completion of its refinancing. DXC previously completed the offering of €1.35 billion Senior Notes priced on September 2, 2021 and $1.35 billion Senior Notes priced on September 7, 2021. DXC completed redemption of $2.5 billion principal of (i) EUR term loan in the amount of €400 million due FY23 and FY24, (ii) $500 million 4.25% Senior notes due FY25, (iii) £250 million 2.75% Senior notes due FY25, (iv) $467 million 4.125% Senior notes due FY26, (v) $500 million 4.75% Senior notes due FY28, and (vi) $234 million Senior notes due FY30. The applicable make whole premium for these redemptions was $300 million and accrued and unpaid interest was $40 million. Ken Sharp, Chief Financial Officer, DXC commented: “Our opportunistic debt refinancing of $2.5 billion of our high coupon debt further solidifies our financial foundation by extending our debt maturities, lowering our maturity towers and reducing our ongoing interest expen
Schlumberger Announces Third-Quarter 2021 Results Conference Call24.9.2021 16:00:00 CEST | Press release
Schlumberger Limited (NYSE:SLB) will hold a conference call on October 22, 2021 to discuss the results for the third quarter ending September 30, 2021. The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 8858313. A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until November 22, 2021, and can be accessed by dialing +1 (866) 207-1041 within North America or +1 (402
Tradeweb Successfully Completes its First Southbound Bond Connect Transactions24.9.2021 14:07:00 CEST | Press release
Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has completed its first Southbound Bond Connect transactions via the trading link between Tradeweb and China Foreign Exchange Trade System (CFETS). “Southbound Bond Connect is the latest evolutionary step for China’s financial market, providing domestic investors with more flexibility and choice when trading offshore bonds,” said Lee Olesky, CEO of Tradeweb Markets. “Together with CFETS, our goal is to better meet onshore investors’ demand for streamlined access to global investment. We will continue to focus on further enhancing the trading link by deploying new innovative trading functionality, just as we did with the Northbound leg of Bond Connect.” Southbound Bond Connect facilitates fixed income portfolio diversification for institutional investors in China. Tradeweb collaborates closely with CFETS to create a uniform trading ex
H.I.G. Capital Acquires Aspire Pharma24.9.2021 14:05:00 CEST | Press release
H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $45 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Aspire Pharma Limited (“Aspire” or the “Company”), a leading UK provider of niche generic and branded specialty pharmaceuticals, alongside its founder Graham Fraser-Pye. The financial terms of the transaction have not been disclosed. Aspire licenses and develops niche generic and specialty pharmaceutical products that offer innovative formulations, value for money for payors, and reliable supply arrangements in markets that are often underserved. The business holds leadership positions in urology, ophthalmology, CNS and dermatology, with a highly diversified portfolio of more than 250 products across multiple categories, including branded specialty products and unbranded niche generics. H.I.G., together with the management team, aims to continue Aspire’s strong track record of organic growth and