Hackman Capital Partners and Square Mile Capital Management are adding a film and television studio campus in Ireland to their portfolio.
The two companies said they have been selected to develop the €300m Greystones Film and Television Studios in a joint venture with Ireland Strategic Investment Fund (ISIF) and real estate investor Capwell.
The two-phased development is located in the coastal town of Greystones.
On completion, the Greystones media campus will be Ireland’s largest studio complex with more than 670,000sqft of studio space on 44 acres with 14 sound stages.
The first seven sound stages and associated office, workshop and backlot spaces will be delivered in mid-2024.
Hackman Capital and Square Mile already own the Ardmore Studios and Troy Studios in Ireland which they acquired in August last year.
Michael Hackman, founder and CEO of Hackman Capital Partners, said: “We are grateful to ISIF and Capwell for this exciting opportunity, and we’re thrilled to be expanding our footprint in Ireland.
“We see Ireland as a premier destination for content creators across the globe, and we’re committed to seeing it grow exponentially.”
Craig Solomon, Square Mile Capital’s CEO, said: “The demand for modern, well-run studio facilities in Ireland is very strong and is expected to remain so for the foreseeable future. This opportunity to help meet that demand, and deliver a superior level of operating support to the creative companies that will use the facilities, is very attractive to us.”
Paschal Donohoe, Ireland’s minister for finance, said: “This investment is reflective of the positive work done by the industry over the last number of years.
“It is also indicative of the impact of the long-standing state supports for the expression of Irish and European culture through audio-visual works and the creation of quality employment opportunities for those working within the sector.”
Donohoe said the joint venture between ISIF, Ireland’s sovereign development fund and its business partners will enhance Ireland’s ability to capitalise on the high demand for content by “promoting our country as a location for both foreign and domestic producers”.
Nick Ashmore, director of ISIF, said: “As Ireland’s sovereign development fund, we are delighted to join forces with top-tier global film studio investors and operators to help meet the immense global demand for content for the world’s biggest streaming services as well as cinema and TV.
“Together we will offer producers a state-of-the-art audiovisual campus, bringing an even greater share of global content generation to Ireland and supporting significant employment and ancillary economic activity in the Dublin/Wicklow region.”
Will McCabe, managing director of Capwell, said: “This significant long-term investment will also provide a major economic and cultural boost to the region, which is great news for the local Wicklow community.”
MBS Group, a film and TV studio real estate and production services platform owned by Hackman Capital and Square Mile, will assist in the studio design and will also provide production services when the new studio campus opens its doors.
Jason Hariton, chief real estate officer of MBS Group, said: “Ireland has captured the heart of the global film industry, and demand for new studio space is only escalating.
”Greystones Media Campus will not only be Ireland’s largest production facility, but also its most technologically advanced.”
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