Original 'Star Wars' Films Studio Faces Uncertain Future Due To Massive Repair Costs
Image Source: BBC
British film studio Elstree Studios, the home of blockbuster films such as the original Star Wars and Indiana Jones trilogies, finds itself scrambling to secure funding to keep its doors open due to a massive repair bill.
A report entitled, “Procurement of a Consultant – Elstree Film Studios Strategic Future – Way Forward,” states that to keep up with the ever-advancing landscape that is the film industry, it would need funding upwards of £150 million to £200 million (up to $255 million). In 2022, workers found asbestos during the replacement of several studio doors, which required remediation. During the remediation, the walls and roofs of several studios were described as being in a “dangerous” state and past their structural prime.
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In addition to the structural repairs, the flooring, windows, and electrical wiring also need replacing. The report also noted that the IT infrastructure needs a complete upgrade.
Hertsmere Borough Council, which owns the 100+-year-old studios, cited that they do not have the funds to overhaul the studio and noted that it “needs to diversify its investment to mitigate financial risk to its local taxpayers in the event of a downturn in the film industry.” The report also mentioned the “feasibility of proceeding with the project” or if it were better to demolish the studios.
Currently on the table is a proposal to hire a film consultant (to the tune of £90,000) to advise on the best way forward. If approved, the Council will have a better idea of the future of the studios. The branding of Elstree Studios is worth a “substantial” amount and may manage to save the studios for a few years more.
The Council plans on entertaining several proposals soon in hopes that one “will ensure the site remains competitive and aligned with emerging and exciting trends in the industry.”
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Sources: Variety, BBC, Elstree Studios
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