BBC Elstree Centre to be redeveloped as Fairbanks Studios

AXA IM Alts has secured planning permission to redevelop part of the former BBC Elstree Centre into a new production facility named Fairbanks Studios.

The investment company received unanimous approval to proceed with the redevelopment of approximately 50 percent of the campus, which previously housed the long-running television series EastEnders. AXA IM Alts said the facility will be converted into a 266,000-square-foot media campus for use by the high-end television and independent film industries.

Oxygen Studios, a specialist in studio development and operations, has been appointed as adviser to the project. Construction is scheduled to begin later this year.

The campus will be rebranded as Fairbanks Studios in reference to its historical ties to actor Douglas Fairbanks Jr., who owned and operated the site during the 1950s.

Plans for the redevelopment include the addition of five sound stages, increasing stage space to approximately 100,000 square feet. Each stage will range from 16,000 to 21,000 square feet. The site will also include new workshops, offices, a café, base camp, backlot, and expanded parking and cycling infrastructure.

A new five-story media hub is planned to house 58,000 square feet of office and amenity space for media-related businesses.

According to AXA IM Alts, the studio complex is targeting a BREEAM Outstanding rating and will be evaluated under the Albert Studio Sustainability Standard. The development will include landscaped public areas and approximately 130 new trees.

“These studios have played an important role in the establishment and evolution of the U.K. TV and film industry for over a century,” said Rob Samuel, head of U.K. development at AXA IM Alts. “We are proud to be moving forward with the redevelopment, continuing that legacy by delivering state-of-the-art studios that will support the growth of Britain’s creative sector.”

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The project follows AXA IM Alts’ recent expansion of its Bry-sur-Marne film and series studios in Paris.