BBC to sell off £70m ‘Eastenders’ studio

THE BBC has hoisted a for sale sign over the studio behind Eastenders, as the broadcaster battles sliding income from the licence fee.

The corporation is planning to offload BBC Studios Elstree and lease back the space from a new owner, allowing the long-running British soap to continue to be filmed at the site.

As well as Eastenders, the studio has been used for setpiece BBC events, such as Children in Need and its coverage of UK elections. Elstree is reportedly worth £70m.

Commercial property agents Lambert Smith Hampton have been hired to find potential suitors, according to an advert seen by The Daily Telegraph, which described it as a “unique opportunity to acquire an iconic piece of production history and write the next chapter”. The broadcaster is open to exploring “a number of potential disposal structures”, the listing says.

The sale is part of efforts by Tim Davie, the director general of the BBC, to increase the commercial returns of the organisation amid the erosion of its £3.2bn annual licence fee income.

The efforts helped the broadcaster’s commercial arm – BBC Studios – make a record £226m profit last year.

The decision to offload Elstree comes as the TV and film production sector grapples with a shortage of studio space driven by an insatiable demand for content from US streaming companies. Netflix has studios in Surrey and West London and Disney in Buckinghamshire.

A BBC spokesman said: “As part of our ongoing review of the BBC’S property portfolio we are exploring the sale of Elstree and leasing back part for the continued production of Eastenders.”