The home of the original StarWars films requires a cash injection of up to $255 million to “replace life expired buildings and ensure its competitiveness beyond the 21st century.”
A report has laid bare the challenges faced byThe studio, which is owned and operated by Hertsmere Council, requires a cash injection of £150 million to £200 million to “replace life expired buildings and ensure its competitiveness beyond the 21st century.”
The report also states that flooring, windows, electrical wiring and mechanical plants needs to be replaced and the IT infrastructure needs to be upgraded. Other options including seeking external investors, leasing the studio out longterm or potentially even re-developing the site. The report says the site of the studios is worth between £40 million to £100 million for residential use while the Elstree Film Studios brand is “worth a substantial sum.”
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