etflix has called the UK one of its ‘most important hubs’ because it has entered into a lease to open a major new production site in Enfield, north London.
The entertainment streaming giant has signed up to take a seat with the owner of the FTSE 100 Segro, where it will have sound stages, studios and spaces for makeup and costumes.
Netflix, which has seen the new drama Squid Game become its most popular series of all time, attracting more than 111 million viewers since its debut last month, has strengthened its real estate presence in the Southeast in recent years.
The latest rental is estimated at around 230,000 square feet, and Netflix will move in next year.
Anna Mallett, vice president of physical production for the company, said the Segro Park Enfield space “builds on our commitment to spend over $ 1 billion on productions across the UK this year, to invest in the creative community and to support the next generation of talent ”.
It has been estimated that this investment will help create around 20,000 jobs in the UK.
Mallett added, “The UK is one of Netflix’s most important hubs: its creative genius, combined with a highly skilled and versatile workforce, creates an ecosystem that makes this country one of best places to do business.
Alan Holland, Managing Director, Greater London, at warehouse owner Segro, who was advised by real estate agent Lambert Smith Hampton, said: “The creative industries sector is an exciting market for us and this deal with Netflix demonstrates the flexibility and versatility of our quality warehouses.
Enfield’s head of council, Councilor Nesil Caliskan, said efforts had been made “to create a business-friendly, supportive and welcoming environment for the film and television industry which the borough is now home to the largest concentration of new studios in London “.
Earlier this year, the Sunday Telegraph reported that “exploratory” talks between Segro and Netflix were underway. The report says the site has easy access to the M25, “seen as a key draw for television and film production teams.”
The deal has now been signed, shortly after Segro completed construction of the new site. It is about a 13 minute walk from Ponders End station.
Lambert Smith Hampton boss Ezra Nahome said: “We are seeing unprecedented demand for movie studios and associated spaces. The activity of occupants and investors is strong.
Demand for new studio capacity, services and facilities has never been greater, according to real estate consulting firm JLL, with up to 4.5 million square feet of new developments under consideration for answer to. This is more than double the current amount of permanent stage space in the UK.