Planning Permission Approved For New $300 Million U.K. Film Studio

Following a virtual planning meeting on Wednesday evening, Ashford Borough Council has granted planning permission to transform the abandoned Newtown railway works in Kent into a $300 million (£240 million) film studio.  

Key points 

The new content hub is estimated to bring in £100 million ($125 million) a year into Ashford’s economy and around 2000 full-time jobs. The ambitious complex – which will include four TV and film studios – is the brain-child of the Creative District Improvement Company (TCDI), with developer Quinn Estates and funding partner U+I.

The facility will include a university for around 200 graduates a year with TV, film, animation and post-production technology, serviced and independent apartments, an 18-story hotel, and a multi-story car park. To emphasize the scale of the plans for the area, on-completion the car park will be the tallest building in Ashford.

Crucial quote 

Speaking after the council handed down its decision Jeremy Rainbird of TCDI said, “I’d like to thank you for working so proactively to deliver this meeting and ensure a decision can be made on our proposals in these exceptional and unprecedented circumstances.

“With your support we can collectively start to rebuild and create the industry, jobs and momentum that can deliver an exciting new era for Ashford – building on the investment already made in the town.

“Approving this application will mean that tomorrow when I telephone Eoin Egan, the director of studio and production operations for Netflix
NFLX
, and John Eddy, director of worldwide production real estate for Amazon
AMZN
– both amongst those who are vying for our production space – I can say the Ashford International Studios have been given the green light with overwhelming support and excitement and that the studios will be open for business in 2022.”

Action and opportunity 

Ashford also boasts a Eurostar train stop which would enable easier access to Netflix’s European hub in Amsterdam. 

Ashford Borough Council said both Netflix and Amazon were “expected to be among a number of companies bidding for space now that permission has been granted”.

With a sizable backlog in productions caused by the Coronavirus pandemic the studio may very well find itself with plenty of work when it opens in a couple of years. 

The announcement follows TCDI’s £50 million ($64 million) acquisition in March of Twickenham Studios in Greater London. The company took a 50% stake in the project alongside property developer General Projects. 

U.K. studio space has become much more sought after as Netflix and Disney
DIS
both took long-term leases in 2019 at Shepperton and Pinewood studios respectively.

With strong film and TV tax credits, and world-renowned production staff, we can expect many more major projects to call the U.K. home in the near future.