Cardiff Capital Region City Deal (CCR) has agreed a £12m Strategic Premises Fund investment to finance the development of Great Point Studios in Cardiff.
The investment – delivered in partnership with the Welsh government’s Creative Wales agency, which is providing a £6m grant – is supported by an additional funding of £21m from Great Point Studios, which recently bought the Seren Studios site from the Welsh government.
Great Point Studios leased the studios since 2020 prior to purchasing it and having secured funding the company intends to deliver 250,00 sq ft of film and TV production space, featuring four state-of-the-art studios and supporting infrastructure over two phases.
Dawn Bowden, deputy minister for arts, sport and tourism for the Welsh government, said: “This is a very exciting time for the creative sector in Wales, and Great Point Studios purchase of the studio and their planned investment is another show of confidence in Wales as a brilliant and established location for film and TV productions. This investment will create further jobs and help to cement a strong future for the sector, reinforcing the great demand and respect for our highly skilled creative workforce here in Wales.”
David TC Davies MP, Welsh secretary, added: “There is an incredibly strong and growing creative industries sector in Cardiff. The UK government is proud of funding for the Cardiff Capital Region, which enables them to work with other partners and make this exciting investment. We want to attract talent in TV and film production to Wales, building on the fantastic reputation that we already have. This facility will deliver the scope for more productions to base themselves in Cardiff, helping retain our pool of homegrown creatives, training future generations and creating jobs, opportunity and growth.”
Cllr Anthony Hunt, leader of Torfaen County Borough Council and chair of CCR’s regional cabinet, said: “This investment typifies what our Strategic Premises Fund is all about – delivering 257,000 sq ft of world-class production space, with four state-of-the-art studios and a comprehensive support infrastructure being built over two phases. I’m delighted that all the hard work put in by so many people has delivered such a tremendous result – for a development that perfectly encapsulates the aims and objectives of the CCR Regional Economic & Industrial Plan, and our ambitions to nurture ‘good growth’ across the region.”
Rob Quinn, associate director, investment advisory, at CBRE Capital Advisors, which manages the CCR Strategic Premises Fund, added: “The CCR loan will be integral to the ongoing success of Great Point Seren Studios, reinforcing the deep-rooted connection between South Wales and the film industry. The new film studio is designed with a strong emphasis on sustainability in both its construction and daily operations targeting a BREEAM Excellent rating, demonstrating Great Point Studio’s commitment to environmental responsibility.
“Beyond its environmental commitments, the studio’s future-proofed design has not only secured a robust current use value but is also underpinned by a strong alternative use value and further development potential. This versatility positions the studio as a valuable asset for local, national, and international filmmaker sub-tenants, and will attract a diverse array of projects and talents to Wales, further cementing South Wales’ position as a preeminent film hub.”
