AXA IM Alts has commenced extension and improvement works at one of France’s largest film & series studios, located at Bry-sur-Marne and Villiers-sur-Marne in east Paris. AXA IM Alts acquired the studio campus in June 2023, on behalf of its clients, marking its first investment in this emerging institutional real estate asset class.
The sector is characterised by a critical shortage of high-quality, purpose-built, modern space where current supply is unable to satisfy the rapid growth in global demand for original content from broadcasters and streaming services, as well as continued demand for feature film content. France, and Paris in particular, is a global leader in audio-visual and cinematographic content creation.
The 12-ha Bry-sur-Marne studio campus is managed by Guillaume de Menthon, CEO of Studios de Bry, and thanks to a phased extension and refurbishment programme, it will remain operational throughout the development period. Preparatory works have been launched in November, allowing for the main construction of the new studios to start in Q2 this year, ahead of completion expected in Q4 2026.
While preserving their character and heritage, the programme aims to double Studios de Bry’s stage surfaces and to extend from 8 to 14 stages ranging between 600m2 and 1,400m2, with a wide collection of support functions comprising post-production, workshops, offices, assembling sets, costume spaces and artist dressing rooms.
The development project is supported by France 2030, the French government’s investment plan to support and transform certain strategic sectors.
John O’Driscoll, Global Co-Head of Real Estate at AXA IM Alts, commented: “We acquired the Bry-sur-Marne film & series studios having recognised a clear opportunity to both extend and update its facilities in order to meet the continued and forecast growth in demand for modern filming and production space. With preparatory works now underway, we have begun a programme that aims to double the studios’ production capability to make it one of the biggest of its kind in Europe, as well as fully modernise the entire campus to ensure that it is fully adaptable to existing and future technologies while improving energy efficiency. Given the strong tailwinds of consumers’ desire for an increasing amount of content across a growing number of media channels, we believe this project and the wider film studio sector offer the opportunity to deliver compelling returns for our clients. With this significant programme of works now underway at Bry-sur-Marne, together with the investment we are making at the BBC Elstree studios in London, we are pleased to be at the forefront of this exciting and emerging institutional asset class.”
Image source - AXA IM.
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