Sunderland City Council has launched the search for potential operators, investors and developers for the Crown Works Film Studios development.
The council has appointed CBRE to secure operators, partners and the private investment needed to transform the 80-acre site on the banks of the River Wear into a 1.5m sq ft, world-class film and TV production complex, with the aim of a developer breaking ground in the new year.
Planning permission is already in place for the first phase of Crown Works Studios, with outline consent secured for future phases. The project is supported by a public funding package worth £120m from the UK government, North East mayor Kim McGuinness and the North East Combined Authority. Remediation of the site is currently underway, funded through an initial £25m investment.
Michael Mordey, leader of Sunderland City Council, said: “Appointing CBRE is a pivotal and strategic step in securing the right investor and development partner to deliver this transformational scheme. Their global reach, experience and industry knowledge is highly impressive and we, and they, are very positive and determined that Crown Works Studios will be delivered but now with a new partner. Our ambition has not wavered, so we will keep pushing forward.”
McGuinness added: “We have made the creative industries a central part of our growth plan for the region, and this site has the potential to power an entire industry in our region, opening new opportunities for local people and building on our reputation as a prime location for major film and TV drama. With CBRE now on board, we are very much looking ahead and taking a major step towards turning this vision into a reality.”
Alison Gwynn, chief executive of North East Screen, said: “We are witnessing a landmark moment for creative industries here in our region and Crown Works Studios will provide ground-breaking facilities and the infrastructure we need to build on our recent 131% growth in production. It will support a sustainable, thriving sector that is growing month on month, year on year right here in the North East.”
Andy Byrne, northern TMT lead for CBRE, added: “CBRE is excited to bring this opportunity to the market. Sunderland City Council is at the forefront of regeneration in this region and have ambitious plans to see world-class film and TV production space brought forward to match the demand for purpose-built studio space. This scheme is set to be a catalyst for great things within the region.”
