Aviva Investors has acquired the remaining stake in a 72-acre film production site in the UK from Crest Nicholson for £45m (€53m).

The global asset manager said the acquisition of its stake in the Surrey site, follows an agreement with streaming services firm Netflix to operate and expand the film and television production facility at the Longcross Studios complex. As part of the new agreement, Netflix will take a long-term lease at the site.

Aviva Investors has co-owned the site alongside Crest Nicholson, since 2003.

Longcross Studios is known for filming productions like the James Bond franchise, films from the Marvel Cinematic Universe and the Star Wars series.

James Stevens, the head of development, global real estate, at Aviva Investors, said: “We are confident that Netflix’s presence at Longcross will further cement it as a leading studio and create a truly world-class production centre for the British film industry.

“Moreover, this project will increase the depth and breadth of local employment opportunities, whilst also creating value for the UK pension schemes that make up a large proportion of our investor base.”

Anna Mallett, VP, physical production, EMEA/UK, at Netflix, said: “We are delighted to announce the expansion of our production presence in the UK. The new lease at Longcross highlights our commitment to investing in the UK creative industry and will provide a wealth of opportunities and production jobs, from entry-level to heads of department.”

To read the digital edition of the latest IPE Real Assets magazine click here. 

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