Elstree Studios - next new chapter

Hertsmere Borough Council has accepted the recommendation of a cross-party tender panel and its external advisers to terminate negotiations with Pacifica Ventures in respect of the operation and management of Elstree Studios.

It was hoped that a long lease on the studio site would be put in place by 1 April 2007 when the existing contractual arrangements for Elstree expired. However it became clear that the Council and Pacifica Ventures would not be able to reach terms acceptable to the Council within the necessary timeframe and the Council therefore activated a dormant company Elstree Film Studios Limited to assume the management of the studios from 1 April.

At the Executive meeting last night, Wednesday 18 July, members accepted the recommendations that Elstree Film Studios Ltd continue to run the studios for a further three years while the Council considers the options for the site.

Cllr John Graham, leader of the Council, said: “We remain committed to securing the long term future of the studios for the benefit of those who live and work in the area and are confident that we can continue to build on the strong reputation of the studios and increase its business while we look for long-term options.

”The studios are our single biggest asset and we are committed to protecting that asset on behalf of this and future generations of Hertsmere residents."