Filmmaking and quality TV play their part
Meanwhile just under 10% of the tenants we’ve worked with so far this year are employed in media & entertainment, a reflection of the UK’s status as a leading global location for film and high-end TV production.
Last year film and high-end TV production spend in the UK totalled £6.8 billion with feature films representing over 40% of this figure; the highest annual spend on record. Areas such as Primrose Hill, Hampstead and south-west London have long been desirable for production teams and film star tenants due to their proximity to Shepperton, Pinewood and Elstree Studios.
And, with the UK film industry continuing to experience strong inward investment, we are seeing a rise in tenants associated with filmmaking seeking to base themselves in a broader mix of areas. So, as well as the addresses with enduring fame on the world stage, we are increasingly seeing places such as Clerkenwell, Shoreditch, Hackney and Victoria Park in east London become popular destinations given their proximity to Eastbrook Studios.
London is an important global city in which people want to live and work. While lifestyle and education underpin the capital’s desirability for super prime tenants, its proximity to the continent enables the high proportion of tenants identifying as business founders to communicate and travel for work purposes with ease.