Seren Stiwdios sold to US firm & set for £18m expansion

US facilities firm Great Point Studios has bought Seren Stiwdios from the Welsh government for £9.35 million.

The company, which runs Lionsgate Studios in New York and has studio campuses in Buffalo, New York and Newark, New Jersey and is planning another facility in Atlanta, Georgia, had been leasing the location in Wentloog, Cardiff, since October 2020, and had the option to acquire the studios between 1 April 2022 and 31 March 2025 as part of this agreement. Seren Stiwdios will now become Great Point’s headquarters. 

The studios currently cover over 180,000 sq ft, and had been run by Pinewood Studios under the name of Pinewood Studios Wales until 2020 - who had been on board since the Welsh government bought the location in 2014 for £5.25 million.

In addition to the acquisition, Seren Stiwdios will undergo an £18 million expansion. £12m debt finance has been secured through the Cardiff Capital Region’s £50m Strategic Premises Fund, with another £6m in grant funding through Creative Wales.

This aims to deliver 257,000 sq ft of production space, with four studios and a comprehensive support infrastructure being built over two phases. The development will also include a collaborative training facility and aims to make the facility a hub for virtual production in the region. 

It is hoped that the expansion will result in Seren Stiwdios supporting 750 freelancers a year, up from the current 250.

Welsh Deputy Minister for Arts, Sport and Tourism, Dawn Bowden, said: “This is a very exciting time for the Creative sector in Wales - and Great Point Studios purchase of the studio and their planned investment is another show of confidence in Wales as a brilliant and established  location for film and TV productions. 

“This investment will create further jobs and help to cement a strong future for the sector – reinforcing the great demand and respect for our highly skilled creative workforce  here in Wales.”

Great Point Studios founder and CEO Robert Halmi added: “Cardiff has a thriving creative community and offers highly skilled industry professionals not to mention a beautiful setting for any location filming. With the continued strong demand for content, purchasing Seren Stiwdios and expanding our footprint in Wales was a natural next step. We look forward to continuing our commitment to education, local community involvement and further developing many opportunities at Great Point Studios Wales as the country continues to experience such tremendous growth.”

Councillor Anthony Hunt, Leader of Torfaen County Borough Council and Chair of CCR’s Regional Cabinet, commented: “This investment will enable the current Seren Studios site to realise its full potential as a key part of the CCR Creative Industries priority sector. It comes at a time when Film & TV production is changing shape worldwide - and will enable our Region to play an increasingly impactful global role in a creative industry that brings immense value, in terms of both sustainable job creation and the deepening of local supply chains.

“I’m delighted that all the hard work put in by so many people has delivered such a tremendous result - for a development that perfectly encapsulates the aims and objectives of the CCR Regional Economic & Industrial Plan, and our ambitions to nurture ‘Good Growth’ across the region.”