The Studio Space Race
July 13, 2021 | What we do
Film production industry joins the scramble for warehouse space
Film and TV Studio space is in demand, with companies changing their approach to leases.
What could this mean for traditional warehouse occupiers?
CBRE estimates that the film and production industry have a current demand for 2 million sq ft of studio space. With streaming giants such as Netflix even looking for freehold warehouse space.
Demand is due to production delays due to the pandemic, and the desire for online streaming content.
Total spend on UK film and high-end TV production 2019 pre-pandemic was £3.62 billion, ip 16% from the previous year. Investment from major players Netflix, Disney, Warner Bros, Apple and NBCUniversal continues to grow fiercely.
This demand is putting pressure on existing warehouse supply available which is already in desperate need for online retailers and e-commerce distribution centres.
There is now a drive towards re-purposing large warehouse and industrial space to encompass several aspects of film production; workshops, alternative set build space, production offices, prop storage. Many landlords may traditionally err towards existing distribution companies as they are perceived as safer.
We however, connect the dots specifically for large vacant space awaiting the next phase of redevelopment. We can maximise it’s earning potential and minimise risk on a short-term basis.