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Sunset Studios to Spend Almost $1 Billion on New U.K. Film Studio

  • Venture will spend over 700 million pounds developing the site
  • The 91-acre site will be based in Hertfordshire, England
Illustration of the proposed Sunset Studios.
Illustration of the proposed Sunset Studios.Source: Blackrock Group Inc.

Blackstone Group Inc. and Hudson Pacific Properties will spend more than 700 million pounds ($974 million) to build a film studio north of London, taking advantage of a shortage in production capacity after streaming services ramped up demand for original content.

Blackstone and Los Angeles-based studio operator Hudson Pacific bought the 91-acre (368,260 square-meter) site in Hertfordshire for 120 million pounds, the companies said in a statement on Sunday. Blackstone plans to make it an expansion of the partners’ Sunset Studios business.