Ireland is set to welcome more big-ticket productions to its shores, with a €300M ($327M) studio complex backed by Hackman Capital Partners being constructed to address demand for production space.
U.S. investors Hackman and Square Mile Capital Management are among the consortium selected to develop Greystones Media Campus, which is planned to open its doors in 2024 as a state-of-the-art film and TV studio 15 miles south of Ireland’s capital Dublin – Ireland’s largest of its kind.
The ambitious build will double the number of high-end TV and film stages in Ireland, and will lead to creation of around 1,500 jobs, according to the consortium.
The deal pushes Hackman and Square Mile further into the Irish creative industries – the group was behind the acquisitions of Ireland’s Ardmore Studios and Troy Studios in August last year.
They are working on what’s billed as a “two-phased development” with a joint venture partners the Ireland Strategic Investment Fund, which is Ireland’s sovereign development fund, and Capwell, which is an investment vehicle of influential Irish construction business Sisk.
Hackman and Square Mile’s affiliate The MBS Group will aid studio design and oversee operations and provide production services and equipment when Greystones Film and Television Studios opens in two years.
The coastal-located campus is planned as Ireland’s largest studio complex at more than 670,000 square feet spread across 44 acres, including 14 sound stages. The first seven and their associated office, workshop and backlot spaces will be ready in mid-2024.
“This joint venture by the Ireland Strategic Investment Fund and its business partners will enhance Ireland’s ability to capitalize on the high demand for content by promoting our country as a location for both foreign and domestic producers,” said Paschal Donohoe, Ireland’s Minister for Finance.
Ireland’s audiovisual sector is currently worth over €1BN ($1.1BN) to the Irish economy.
“We see Ireland as a premier destination for content creators across the globe, and we’re committed to seeing it grow exponentially,” said Michael Hackman, Founder and CEO of Hackman Capital Partners. There is enormous talent here, not to mention a stunning landscape and some of the industry’s best financial incentives for filmmakers
