Seren Studios, home to Sherlock season 4, Sky's A Discovery of Witches and the upcoming Netflix film Havoc with Tom Hardy, has been sold by the Welsh government to Great Point Media.
The company plans to increase the studio footprint to 257,000 square feet, including four state-of-the-art studios and a comprehensive support infrastructure. Construction will take place in two phases, and the space will become Great Point Studios headquarters.
Great Point Studios is currently developing a studio for Lionsgate in Yonkers, New York with further campuses in Buffalo, New York and Newark, New Jersey. They are also undertaking the construction of a new production facility in Atlanta, Georgia.
Previously, Seren Studios was part of the Pinewood Studio project and was acquired in 2014. In 2020, Great Point Media entered into a 10-year lease to manage the studio and invested £6m in developing a virtual production hub.
They were given a window of April 2020 — March 31, 2025 to acquire the freehold, which they have at £9.35m excluding VAT (per the government statement).
Further to developing the studio's physical space, a collaborative training facility will be created in order to "build the supply of local skills and talent and embed the studio as an innovation hub for virtual production."
"The studios' expansion will deliver jobs, wealth and growth for the wider supply chain and region," the statement continued.
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."
While Great Point Media itself is UK based, they have partnered with US fund manager MC Credit Partners to finance their film and TV projects.