AXA IM Alts has secured a resolution to grant planning permission to redevelop part of the former BBC Elstree Studios into a modern film and TV campus, to be rebranded Fairbanks Studios in honour of former owner Douglas Fairbanks Jr.

AXA IM Alts acquired 50% of the 16-acre site in January 2024 for £70m. The remaining half, recently upgraded by the BBC and held on a long-term lease for productions including EastEnders, is unaffected.

The proposals transform existing studios and ancillary spaces into a 266,000 sq ft media campus for TV and independent film. Designed by UMC Architects with an art deco frontage, the scheme will more than quadruple stage space to about 100,000 sq ft across five sound stages ranging from 16,000 to 21,000 sq ft. New workshops, offices, a café, base camp, backlot and improved cycle and parking facilities are included.

A five-storey ‘media hub’ will add 58,000 sq ft of office and amenity space for media-related businesses directly linked to the studios. Specialist developer-operator Oxygen Studios has been appointed to advise, with construction planned to start later this year.

Rob Samuel, head of UK development at AXA IM Alts, said the plan builds on a century of screen heritage, delivering state-of-the-art studios to support Britain’s creative sector while bringing local employment, architectural distinction and sustainable design.

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