The movie studio real estate is appearing more and more on the radar of investors amid strong demand for studio space in countries, such as Spain and Greece.

The race to produce content among the main streaming platforms, Disney + to HBO, is driving the demand for studio space globally. Netflix He alone is estimated to have released more original productions in 2019 than the entire television industry in 2005.

“From the big screen to going live – and despite all the various incarnations the film industry has gone through over the years – the need remains high for a controlled environment to create content,” says Carl Muhlstein, International Director based in JLL’s Los Angeles office.

The current boom in online content is driving demand for movie studios, impacting industrial and retail boxes.

North of London, Blackstone and Hudson Pacific Properties are jointly investing £ 120million (US $ 164million) in land as part of plans for a new £ 700million studio. This is the first move outside the United States for Sunset Studios, which has hosted both TV series and feature films such as La La Land, When Harry Met Sally and Zoolander.

Further south in Europe, Spain and Greece are also in the game.

In Madrid, Netflix has set up its first European production hub on a 22,000 m2 campus in Tres Cantos, developed and managed by Grupo Secuoya, a leader in audiovisual production services. Earlier this year, the Spanish government also unveiled plans to invest $ 1.9 billion to grow the country’s film and television production sector by 30% by 2025.

The plans will see the strengthening of the the country’s audiovisual sector, including film, television series, short films, advertising, video games and animation, and the creation of a production hub aligned with post-pandemic Spanish culture and tourism.

In Greece, the number of foreign film productions shot on its shores has increased in recent years after the government softened incentives.

Just outside Thessaloniki in northern Greece, Nu Boyana Film Studios, a subsidiary of Millennium Films is building a film studio as part of a 20 million euro project. The film studio will cover 8.3 hectares (83 stremmas), will include eight film sets, while the film sets will span 15,000 square meters, out of a total of 25,000 square meters of film space. studio in total, according to the state news agency ANA-MPA. .

Although many investors in the sector already know large film companies and hold stakes in large film companies through stocks or bonds, investing in an industry that requires a hands-on approach is “not for everyone,” warns Michael Davis, head of JLL’s studio at UK and Europe.

“It’s a complex and rapidly changing industry – and that requires a deep understanding of the diverse needs and requirements of film companies, ”said Davis. “That said, more asset management and operations platforms with the know-how to partner with capital will certainly emerge as investors continue to move into more alternative real estate sectors.”


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