Pacifica Ventures to Build $140 Million U.K. Film Studio
The L.A.-based developer and Media Content Capital won out over rival bidders to construct the Hollywood-scale facility in east London.
Los Angeles-based Pacifica Ventures is to build Dagenham Studios, a Hollywood-scale film studio on a 22-acre site in London, it was announced Thursday.
Pacifica Ventures, in partnership with Media Content Capital and Be First, an agency aligned with the Barking and Dagenham Council, was chosen over rival bidders to build 12 soundstages, comprising around 264,000 square feet, on the east London site.
The announcement comes as Hollywood producers are shooting film and TV projects in and around London in growing numbers. Major films including Solo: A Star Wars Story, Jurassic World: Fallen Kingdom, Dumbo, Fantastic Beasts: The Crimes of Grindelwald, Tomb Raider and Ready Player One, alongside such TV shows as The Crown, Game of Thrones, Peaky Blinders and Philip K. Dick's Electric Dreams, were all shot in the U.K. in 2017.
The U.S. consortium beat out Pinewood, the film studio behind the Star Wars and James Bond franchises, to build the Dagenham studio complex as part of a deal valued at around $140 million.
"We are thrilled to partner with Be First in the creation of a world-class film and television production complex that will become the pride of Dagenham and Greater London," Pacifica Ventures CEO Dana Arnold said in a statement.
The proposed Dagenham Studios complex will include workshops and warehouses for lighting and grip operations, around 95,000 square feet of production office space and postproduction and visual effects facilities.
Pacifica Ventures operates Albuquerque Studios in New Mexico and the Sun Center Studios complex outside Philadelphia.