Hertsmere Borough Council is looking to the future and is set to commission further work to help secure a thriving and sustainable future for the world-famous Elstree Film Studios, ensuring it continues to play a key role in the UK’s film and television industry for generations to come.
At its meeting yesterday, 11 November, Cabinet approved further due diligence and options to identify a preferred long-term operating model for the studios.
Cabinet also recommended that Full Council approve expenditure of up to £260,000 for independent valuations, specialist consultancy, legal advice and further assessment of the options.
The studios’ ageing buildings and infrastructure require significant investment to ensure they remain competitive and meet the needs of the modern film and television industry.
The review will explore possibilities to improve performance and profitability, attract investment and reduce the need for council funding, while supporting future opportunities for young people through apprenticeships across a range of trades and professions.
Cllr Jeremy Newmark, Leader of the Council said :
“Elstree Film Studios is one of the most important public assets owned by this council, and we have a very clear public obligation to ensure that not only does the public receive best value for it, but that it remains at the heart of our community, contributing to our local economy, operating as a functioning set of film and TV studios.
“ It is right that we are looking at the way forward, but I’m very clear: there is no way that I will allow those studios to be sold off for housing or any other purpose. They're going to continue to operate as studios and to support our local economy, provide jobs, skills, and training for local people, and critically, to enable this borough through our creative industries to play our role in the national, modern, industrial strategy.
“Local residents, businesses and the screen sector can be certain that after over a century as an iconic set of studios, Elstree is going nowhere and will continue to thrive.”
A further report, including a preferred option, financial appraisal, legal and procurement advice and an implementation plan will be presented to Full Council by February, 2027.