Cardiff Capital Region City Deal (CCR) has announced a £12m Strategic Premises Fund investment to finance the future development of Great Point Seren Studios in Cardiff, envisaged to become one of Europe’s leading centres for Film & TV production.
The CCR investment, in partnership with the Welsh Government’s Creative Wales agency who are supplying a £6m grant, is supported by a further £21m of funding by Great Point Media who have recently bought the premises from the Welsh Government, having leased it since 2020.
The investment will see Great Point Studios further upgrading the studio to create a self-sustaining, world-class studio facility that will not only support increased production demand but also deliver over 500 jobs, and growth for the wider supply chain and region. The addition of a collaborative training facility will also help to build the supply of local skills and talent and embed the studio as an innovation hub for virtual production.
The project will deliver 257,000 sq. ft of world-class production space, with four state-of-the-art studios and a comprehensive support infrastructure being built over two phases. In addition, the project will also support up to 750 freelance crew per year, up from the current 250, and the studio in Wales will become the headquarters for Great Point Studios.
The CCR Strategic Premises Fund is managed by CBRE’s Investment Advisory team within Capital Advisors.
Deputy Minister for Arts, Sport and Tourism for the Welsh Government, Dawn Bowden, said:
“This is a very exciting time for the Creative sector in Wales, and Great Point Studios purchase of the studio and their planned investment is another show of confidence in Wales as a brilliant and established location for film and TV productions.
“This investment will create further jobs and help to cement a strong future for the sector, reinforcing the great demand and respect for our highly skilled creative workforce here in Wales.”
Welsh Secretary David TC Davies MP said:
“There is an incredibly strong and growing creative industries sector in Cardiff. The UK Government is proud of funding for the Cardiff Capital Region, which enables them to work with other partners and make this exciting investment.
“We want to attract talent in TV and Film Production to Wales, building on the fantastic reputation that we already have. This facility will deliver the scope for more productions to base themselves in Cardiff, helping retain our pool of homegrown creatives, training future generations and creating jobs, opportunity and growth.”
Cllr Anthony Hunt, Leader of Torfaen County Borough Council and Chair of CCR’s Regional Cabinet, praised the scale and sustainability of the planned development:
“This investment typifies what our Strategic Premises Fund is all about – delivering 257,000 ft² of world-class production space, with four state-of-the-art studios and a comprehensive support infrastructure being built over two phases.
“I’m delighted that all the hard work put in by so many people has delivered such a tremendous result – for a development that perfectly encapsulates the aims and objectives of the CCR Regional Economic & Industrial Plan, and our ambitions to nurture ‘Good Growth’ across the Region.”
Rob Quinn, Associate Director, Investment Advisory, CBRE Capital Advisors commented:
“The CCR loan will be integral to the ongoing success of Great Point Seren Studios, reinforcing the deep-rooted connection between South Wales and the film industry.
The new film studio is designed with a strong emphasis on sustainability in both its construction and daily operations targeting a BREEAM Excellent rating, demonstrating Great Point Media’s commitment to environmental responsibility.
Beyond its environmental commitments, the studio’s future-proofed design has not only secured a robust current use value but is also underpinned by a strong alternative use value and further development potential. This versatility positions the studio as a valuable asset for local, national, and international filmmaker sub-tenants, and will attract a diverse array of projects and talents to Wales, further cementing South Wales’ position as a preeminent film hub.”