Shinfield Studios secures £261m investment
Reading’s Shinfield Studios has secured £261 million in debt finance to construct the second phase of its development.
The investment, which was secured by Shinfield Studios’ law firm Farrer & Co from Cain International, will fund the continued construction of the 18-stage project.
The 85,000 square metre site will also host workshops, offices and facilities for cast and crew. It is expected to become a community hub, creating around 3,000 jobs in the area.
Four temporary soundstages have already been completed and are let to high-end streaming and film companies including Disney, which is expected to run a major production from the site in late 2022.
The commercial property, banking and corporate teams at Farrer & Co secured the deal from The University of Reading, who own the freehold to Thames Valley Science Park, where Shinfield Studios is located. It involved taking out a 199-year geared lease.
Once complete, the studios are expected to generate between £500-600 million of annual inward investment into the UK.
Read more -Shinfield Studios begin work on phase two of mammoth film studio complex
Mark Gauguier, real estate partner at Farrer & Co, said: “We are delighted to have supported our client in a flagship project that showcases the filmmaking talent and facilities on offer both in the Thames Valley and across the UK, as well as the market’s appetite for participation in the film industry.”
Shinfield Studios is the largest of a number of similar projects in the Thames Valley which has led to it being dubbed the ‘Cine Valley’. The most recent of these was a Stage Fifty development in Winnersh which could boost the UK economy by up to £50 million.
This is also not the only TV & film investment recently secured by Farrer & Co. They also acted for Shadowbox Studios, the global builder and operator of soundstages for TV & film productions, of which Shinfield Studios is its UK flagship, in connection with the UK aspects of the $500 million investment by private equity firm Silver Lake.
Read more - First structures emerge from Shinfield Studios development
