Recent years have seen a revolution in the way media is consumed, resulting in an explosion of television and film content being produced globally; in 2019 fifteen companies, including Disney, Apple, Netflix, Amazon and MGM, were forecast to spend in excess of $120 billion on new content alone.
This booming demand for high quality content, combined with a shortage of large purpose-built film studios, has created an exciting investment opportunity and since 2019 Great Point has been raising funds to invest in the creation of new studio facilities in both North America and the UK.
Our first studio build is already underway and with the UK set to remain a leading global production hub, our sector expertise and industry relationships enables us to maximise value for our investors.
Construction is underway at Great Point’s first media infrastructure construction project, a major film and TV studio complex at i.Park Hudson in Yonkers, NY, less than 30 minutes from Manhattan. The 100,000 square foot, $100+ million production hub, named after its anchor tenant, Lionsgate, will include three 20,000 square feet and two 10,000 square feet stages. At least one of the larger studios is expected to be operational in late 2020.
Construction starts this autumn on a new $50+ million full-service film and TV production facility in Buffalo, New York. Great Point is partnering with Rich Industries, a major corporate force locally. A combination of great locations, well-trained crew and support from local government has long made Buffalo a desirable filming destination. The new complex will include two 20,000 square feet stages and 70,000 square feet of office and support space. Completion is projected for autumn 2021.
Work is underway on refurbishing and updating an existing studio in picturesque Tarrytown. Located within the NYC Film Zone and easily accessible from Manhattan, the town on the bank of the Hudson river boasts a variety of filming locations in addition to the studio, and is particularly suited to the production of holiday movies. The upgraded studio facility will feature one 12,000 square feet sound stage and over 15,000 square feet of office space and workshops.
On 1 October 2020 Great Point took over the lease and management of the large Seren Stiwdios complex from the Welsh Government, with an option to purchase and expand the site. Seren has four large stages totalling 74,000 square feet in addition to copious production office and ancillary space. Nearby locations are spectacular and diverse, with cityscapes, coast and countryside all easily accessible. The studios are within 2 hours of London. Great Point has developed plans to expand the complex and site, updating the existing studio space and adding a further 150,000 square feet of stages, offices and backlots, as well as a range of integrated services.