Iconic Elstree Studios Faces £150m Funding Gap for Future Survival, Council Report Warns

Article image

July 26, 2023

Elstree Studios, the renowned film location where legendary productions such as Star Wars and The Crown were filmed, is in urgent need of at least £150m to secure its future, as revealed in a recent council report. Hertsmere Borough Council, the current owner of Elstree Studios situated in Borehamwood, has raised concerns about the hazardous condition of the roofs in some of its stages.

The funds are required to address multiple challenges, including replacing deteriorating “life-expired buildings” where asbestos has been found. However, the council also expressed its financial limitations, stating that it cannot afford continuous investment in the Borehamwood film complex.

Elstree Studios, standing for over a century, has witnessed the creation of numerous cinematic masterpieces since its establishment in the early 1900s. From Alfred Hitchcock’s ‘Blackmail’ to Steven Spielberg’s ‘Indiana Jones’ trilogy, the studio has been an integral part of the film industry’s history. In the 1970s, George Lucas directed scenes from the original Star Wars films at Elstree, solidifying its iconic status.

Unfortunately, the council report emphasizes that the studio’s infrastructure, now over 100 years old, has surpassed its useful life. The report highlights that the walls are expected to last no more than 10-15 years, raising concerns about the studio’s long-term viability. During asbestos remediation work, contractors discovered the dangerous state of the roofs over stages 7, 8, and 9, further highlighting the urgent need for renovations.

Given these challenges, the report questions the feasibility of proceeding with the current project and suggests exploring the option of demolishing the affected stages entirely. In 1996, Hertsmere Borough Council acquired Elstree Studios when it was in a highly dilapidated state, investing £22m in its restoration. Although the site has generated £28m for the public purse and holds a market value estimated between £40m and £100m, additional funding is crucial.

To navigate the financial constraints and determine a viable path forward, the recently elected Labour and Liberal Democrat leaders in Hertsmere propose allocating £90,000 for consultancy fees to strategize the studio’s future. This effort aims to chart a course that ensures the preservation and continued success of this historic film hub.

Check out the full story at the BBC News website.

Open chat
Hello 👋
Can we help you?