Ireland intends to welcome larger tickets to its shores, with a 300 million (US $ 327 million) studio complex, backed by Hackman Capital Partners, under construction to meet demand for production space.
US investors Hackman and Square Mile Capital Management are among consortia selected to develop Greystones Media Campus, slated to open in 2024, as the newest film and television studio 15 miles south of Dublin, Ireland. The largest of its kind.
According to the consortium, the ambitious construction will double the number of high-end film and television scenes in Ireland and create around 1,500 jobs.
The deal pushes Hackman and Square Mile into Irish creative industries: the group was behind the acquisition of Ardmore Studios and Troy Studios in Ireland last August.
They are working on a two-phase development joint venture with partners, the Irish Strategic Investment Fund, the Irish Sovereign Development Fund and Capwell, Sisk, an investment firm in the influential Irish construction sector.
Hackman and Square Mile’s subsidiary MBS Group will assist in studio design and oversee operations and provide production facilities and equipment when Greystones Film and Television Studios opens in two years.
The beach campus is expected to be the largest studio complex in Ireland with over 670,000 square feet on 44 acres, including 14 stages. The first seven and the associated office, workshop and back seat will be ready by mid-2024.
“This joint venture between the Irish Strategic Investment Fund and its business partners will strengthen Ireland’s ability to tap into the huge demand for content by making our country popular with local and foreign producers,” said Pashal Donohe, Finance Minister. Irish.
The Irish audiovisual sector currently represents € 1 billion ($ 1.1 billion) for the Irish economy.
“We see Ireland as a top destination for content creators around the world and look forward to seeing it grow exponentially,” said Michael Hackman, founder and CEO of Hackman Capital Partners. There is extraordinary talent here, not to mention stunning scenery and some of the best financial incentives for filmmakers in the industry.
Source: Deadline
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