The BBC is selling its Elstree Centre – including the famous EastEnders set – as it continues to find ways to make millions in savings.
The BBC has exchanged contracts with Axa Investment Managers for the 16-acre site in Hertfordshire, which includes seven stages as well as workshop, office and post-production facilities.
However, the corporation has agreed to lease part of the studio campus for 25 years – meaning EastEnderswill still be filmed on site.
BBC Elstree Centre was the first of several similar complexes in the area, which are collectively known as Elstree Studios.
The value of the sale has not been revealed, but the broadcaster is currently looking to find £500m in annual savings. It was reportedly looking for £70m, according to a BBC news report.
Alan Dickson, the BBC’s chief financial officer, said the sale was part of an ongoing review of the BBC’s property portfolio in order to provide the best value for licence fee payers.
“As part of the sale, the EastEnders site has been secured on a long-term lease and Elstree will continue to be the home of Albert Square,” he said.
“Moreover, AXA’s investment ensures the Elstree site remains a fantastic asset for the UK’s creative economy.”
The sale comes two years after the BBC finished rebuilding the EastEnders set at a cost of £87m, which was £27m over budget.
BBC Elstree Centre was originally created as a film studio for Neptune Films in 1914 and converted for use as a television studio in 1960.
It was sold to the BBC in 1984 as the production base and set to launch EastEnders and has previously been used for shows including Children In Need, Casualty, and Top Of The Pops.
The wider Elstree Studios is one of the world’s most famous film and television production campuses in the world, where blockbusters such as Star Wars have been filmed, and is not included in the sale.
John O’Driscoll, global co-head of real estate at AXA IM Alts, said the company aimed to continue the legacy of producing “celebrated films and television series”.
“With the signing of BBC Elstree Centre we will be acquiring one of the oldest working TV and film studios in the UK, with a history dating back almost 110 years,” he said.
“The structure of the transaction allows the BBC to continue its production on the site for at least another 25 years, while providing us with the opportunity to invest in the site to create new world-class studios.”
Mr O’Driscoll said the move was “underpinned by increasing demand from an ever-broader array of production houses, content creators and broadcasters”, coupled with a limited supply of high-quality modern film and production space, “particularly in and around London where new construction is hindered by a lack of available land in the right locations”.
Disgraced hip hop mogul Sean “Diddy” Combs has asked a judge to release him on a $50m bond as he waits to be sentenced for prostitution-related offences.
Combs’s lawyer has argued that conditions at the Metropolitan Detention Centre in Brooklyn are dangerous and noted that others convicted of similar offences were typically released before sentencing.
“Sean Combs should not be in jail for this conduct,” Marc Agnifilo said in a court filing on Tuesday.
“In fact, he may be the only person currently in a United States jail for being any sort of John, and certainly the only person in jail for hiring adult male escorts for him and his girlfriend.”
A “John” in the US is a slang term for somebody who hires a prostitute.
A spokesperson for the US attorney’s office in Manhattan did not immediately respond to a request for comment.
Prosecutors have previously insisted he remains a flight risk and should therefore not be granted bail.
The 55-year-old, one of the most influential hip-hop producers of all time, faces up to a decade in prison after he was convicted earlier this month of two counts of transportation to engage in prostitution.
The charges relate to how he flew people around the US, including his girlfriends and male sex workers, for sexual encounters.
Image: Combs knelt at his chair and appeared to pray after the verdicts
Combs was cleared of three more serious charges – two for sex trafficking and one for racketeering conspiracy – following his landmark trial in New York.
A conviction on one of those charges could have put him in prison for life.
Immediately after he was acquitted of those charges on 2 July, Mr Agnifilo had asked that Combs be released on bond.
But Judge Arun Subramanian denied it, saying Combs at the time had not met the burden of showing by clear and convincing evidence a “lack of danger to any person or the community”.
Combs is the latest celebrity inmate to be locked up at MDC Brooklyn, the only federal jail in New York City, joining a list that includes R Kelly, Ghislaine Maxwell and cryptocurrency fraudster Sam Bankman-Fried.
Ozzy Osbourne fans will be able to say goodbye to the heavy metal pioneer at a procession for his cortege through his home city of Birmingham tomorrow.
The star’s hearse will make its way down Broad Street towards the Black Sabbath bridge and bench – where thousands of fans have left flowers, messages and other tributes since his death.
Osbourne, 76, died less than three weeks after performing his “final bow” in the city – the Back The Beginning reunion with his Sabbath bandmates at Villa Park, which raised about £140m for charity.
Image: Ozzy Osbourne on stage at Villa Park just a few weeks before his death. Pic: Reuters
Large crowds are expected to gather tomorrow as fans pay their respects to the performer who shaped heavy metal music and “proudly carried the spirit of Birmingham throughout his career”, the city council said.
Members of Osbourne’s family will also be in attendance and have funded the event, the council added.
“Ozzy was more than a music legend – he was a son of Birmingham,” said the city’s lord mayor, Councillor Zafar Iqbal. “We know how much this moment will mean to his fans. We’re proud to host it here with his loving family in the place where it all began.”
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The life of Ozzy Osbourne
Mr Iqbal said it was important to the city to give the star “a fitting, dignified tribute ahead of a private family funeral”.
Osbourne and his Black Sabbath bandmates Terence “Geezer” Butler, Tony Iommi and Bill Ward were awarded the Freedom of the City in June, before the Back To The Beginning show, honouring their “significance to the cultural and musical identity of Birmingham”.
The star’s cortege will travel down Broad Street from about 1pm tomorrow, accompanied by a live brass band, Bostin’ Brass. For those not able to make it, a live stream of the Black Sabbath bench, which has been running since Osbourne’s death, will continue.
There is also a book of condolence for public messages at Birmingham Museum and Art Gallery, alongside theOzzy Osbourne Working Class Hero exhibition, highlighting his solo career achievements.
Osbourne, the self-styled Prince of Darkness, pioneered heavy metal with Black Sabbath before going on to have huge success in his own right. He was famous for hits including Iron Man, Paranoid, War Pigs, Crazy Train and Changes, both with the band and as a solo star.
The singer also found a different kind of fame thanks to noughties MTV reality show The Osbournes, which followed his somewhat chaotic life with wife Sharon and two of their children, Kelly and Jack.
Following his death, his family released a statement saying he died alongside them, “surrounded by love”.
The 1975 frontman Matty Healy has warned of a musical “silence” that would come without the pubs and bars that give UK artists their first chance to perform.
Fresh from headlining Glastonburyin June, Healy is backing a new UK-wide festival which will see more than 2,000 gigs taking place across more than 1,000 “seed” venues in September.
The Seed Sounds Weekender aims to celebrate the hospitality sector hosting bands and singers just as they are starting out – and for some, before they go on to become global superstars.
Healy, who is an ambassador for the event, said in a statement to Sky News: “Local venues aren’t just where bands cut their teeth, they’re the foundation of any real culture.
“Without them, you don’t get The Smiths, Amy Winehouse, or The 1975. You get silence.”
Oasis, currently making headlines thanks to their sold-out reunion tour, first played at Manchester’s Boardwalk club, which closed in 1999, and famously went on to play stadiums and their huge Knebworth gigs within the space of a few years.
Image: Oasis stars Liam and Noel Gallagher, pictured on stage at Wembley for their reunion tour, started out playing Manchester’s Boardwalk club. Pic: Lewis Evans
GigPig, the live music marketplace behind Seed Sounds, says the seed sector collectively hosts more than three million gigs annually, supports more than 43,000 active musicians, and contributes an estimated £2.4bn to the UK economy.
“The erosion of funding for seed and grassroots spaces is part of a wider liberal tendency to strip away the socially democratic infrastructure that actually makes art possible,” said Healy.
“What’s left is a cultural economy where only the privileged can afford to create, and where only immediately profitable art survives.”
He described the Seed Sounds Weekender as “a vital reminder that music doesn’t start in boardrooms or big arenas – it starts in back rooms, pubs, basements, and independent spaces run on love, grit, and belief in something bigger.”
The importance of funding for grassroots venues has been highlighted in the past few years, with more than 200 closing or stopping live music in 2023 and 2024, according to the Music Venue Trust. Sheffield’s well-known Leadmill venue saw its last gig in its current form in June, after losing a long-running eviction battle.
In May, Culture Secretary Lisa Nandy announced the £85m Creative Foundations Fund to support arts venues across England.
But most seed venues – the smaller spaces in the hospitality sector that provide a platform before artists get to ticketed grassroots gigs or bigger stages – won’t qualify for the levy. GigPig is working to change this by formalising the seed music venue space as a recognised category.
“The UK’s seed venues are where music careers are born,” said GigPig co-founder Kit Muir-Rogers. “Collectively, this space promotes more music than any other in the live music business, yet it has gone overlooked and under-appreciated.”
The Seed Sounds Weekender takes place from 26-28 September and will partner with Uber to give attendees discounted rides to and from venues.
Tickets for most of the gigs will be free, with events taking place across 20 UK towns and cities including London, Liverpool, Birmingham, Manchester, Glasgow, Leicester, Newcastle and Southampton