Los Angeles-based private real estate investor and operator Hackman Capital Partners, with partner Square Mile Capital Management, has acquired Wardpark Film and Television Studios in Scotland, UK.
Financial details were not disclosed.
The studio campus is located in Cumbernauld, between Glasgow and Edinburgh.
Michael Hackman, founder and CEO of Hackman Capital Partners, said: 'We’re thrilled to be adding Wardpark Film and Television Studios to our distinguished portfolio and excited to be entering the Scottish production market.
'Wardpark has been a strong catalyst for growth in the country’s creative sector, and Scotland has become an important filming destination for international content creators, thanks in part to its lush landscape and scenery and competitive tax credits, as well as its top talent pool.'
The 14-acre campus offers approximately 200,000 ft2 of studio space, including five sound stages, production offices, workshops, an external green screen area and ample parking. Hackman said that the Wardpark staff would remain unchanged.
The transaction is the latest addition to a portfolio of studio assets owned by the partners, in addition to their studio operating and services affiliate, The MBS Group. Recent deals have included studio acquisitions in Toronto, New York and Limerick.
Square Mile Capital CEO Craig Solomon added: 'This acquisition of Wardpark Studios will prove to be a great addition to our partnership’s ownership and operating platform of world-class studio properties. We look forward to participating in, and contributing to the further growth of the Scottish entertainment industry, as the global demand for high-quality film and TV content shows no sign of slowing.'
Jason Hariton, chief real estate officer of The MBS Group said: 'Despite the pandemic, a record £5.9 bn (€7 bn) was spent in the UK on high-end film and TV productions this year – nearly doubling over the last five years – and the Scottish government is working hard to capitaliae on the sector's growth, by bolstering inward investment with the aim to add 30,000 new creative industries jobs over the next five years. We are proud to now play a key part in this mission.'
