Kirkland & Ellis is advising Hudson Pacific Properties (NYSE: HPP), alongside Blackstone (NYSE: BX), on the plan to create a major new centre for film, TV and digital production in Broxbourne, Hertfordshire.
Funds managed by Blackstone Real Estate Partners and Hudson Pacific Properties acquired a 91-acre site, 17 miles north of central London, through a joint venture for £120 million. The acquisition, with an expected total investment of over £700 million, will be the partners’ first expansion of their Sunset Studios platform outside of the US.
The proposed development, which is subject to planning permission, would transform the site into one of the largest world-class film and television studio campuses. The project is expected to create over 4,500 permanent jobs for Broxbourne and the surrounding community and contribute more than £300 million annually into the local economy.
Read Hudson Pacific Properties' press release
Kirkland fielded a multi-jurisdictional team led by London corporate partner Annette Baillie and associate Irfan Ahmed and Los Angeles real estate partner Al Stemp. The team also included London technology & IP transactions partner Joanna Thomson and associate Alex Zapalowski.