East Dagenham has awarded Los Angeles-based film and TV production facilities company Pacifica Ventures a 22-acre lot to build a £100m studio and entertainment complex.
This will be the first new structure of its scale and type to be erected in London for decades, and mayor of London Sadiq Khan said this will further the city’s standing in the filmmaking industry. He cited how over 40 film crews shoot in London any given day.
“This development will bring hundreds of new jobs to the area — from carpenter to camera crew – and will bring big Hollywood blockbusters to Barking and Dagenham,” Khan said.
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Barking and Dagenham council leader Darren Rodwell predicted that the studio would create thousands of “quality jobs and educational opportunities” for the East London community.
“In the face of fierce competition, Pacifica Ventures – MCC emerged as the clear winner based on their track record and commitment to making the film and television studios a cultural and community asset for the borough, for London and for Britain’s film industry,” Rodwell said.
Be First, the Barking and Dagenham group that focuses on regeneration in the borough, vetted the companies and declared Pacifica Ventures the winner yesterday — construction is expected to start in 2019.
It proposed to create 12 sound stages, an event centre outfitted with immersive 3D and virtual reality features, a mill shop facility, job training programmes, an extensive technology complex for post-production, visual effects and media, a multi-forma large-screen theatre, lighting warehouses, grip operations workshops and other high-tech production facilities.
Pacifica Ventures coordinated with Los Angeles-based private equity firm Media Content Capital to beat out multiple production companies vying for this lot, including London-based company Pinewood Studios, which engendered the James Bond franchise.
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