Hackman Capital Partners seals deal to develop Dagenham film studios
US media real estate firm Hackman Capital Partners has agreed a deal with Barking and Dagenham Council to create London’s largest film and TV production centre in Dagenham.
Planning permission to create six sound stages covering 140,000 sq ft, 85,200 sq ft of production offices, and 174,500 sq ft of set construction workshops on former industrial land in Yewtree Avenue was approved by the mayor of London in August.
HCP has agreed to lease the site for 250 years, to be known as Eastbrook Studios London.
US media real estate firm Hackman Capital Partners has agreed a deal with Barking and Dagenham Council to create London’s largest film and TV production centre in Dagenham.
Planning permission to create six sound stages covering 140,000 sq ft, 85,200 sq ft of production offices, and 174,500 sq ft of set construction workshops on former industrial land in Yewtree Avenue was approved by the mayor of London in August.
HCP has agreed to lease the site for 250 years, to be known as Eastbrook Studios London.
The deal was negotiated by Be First, Barking and Dagenham council’s regeneration arm, which took over the plans in October 2019 after Californian developer Pacifica Ventures backed out of the scheme because of uncertainty over Brexit.
Construction is to start next year with it fully operational by 2023.
Pat Hayes, managing director of Be First, said: “Having received some really strong bids from very experienced parties in the industry, we decided Hackman Capital Partner’s proven, track record, global reach and strong relationships with major content providers made them the outstanding choice.
“HCP not only understand our desire to build world-class studios in Dagenham, they also understand their social responsibilities with their commitment to work with the community to create quality jobs and opportunities for local people.”
Michael Hackman, chief executive of Hackman Capital Partners, added: “Together with the diverse and talented people of Barking and Dagenham, our investment will help write the script for the next iteration of ‘Made in Dagenham’.”
HCP has nearly $3.8bn (£2.9bn) in studio and media assets, including several studios in Los Angeles such as The Culver Studios, The Culver Steps and Television City Studios. It also owns Second Line Stages and The MBS Group, which provide studio operation, production infrastructure and studio equipment.
Lambert Smith Hampton and Gowling WLG advised Be First and the London borough of Barking & Dagenham on the deal.
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Photo © Be First
