The UK’s Elstree Studios, located in Buckinghamshire, is in urgent need of between £150m and £200m to secure the future of the film complex, after a report found roofs of some older stages were “dangerous” and evidence of asbestos.

The report is from Hertsmere Borough Council, which purchased the studios in 1996 “in a very dilapidated state”.

It said the money was needed to replace “life-expired buildings”, but that the council also could not “afford to continually invest” in the complex, where The Crown, Star Wars and Indiana Jones films were all shot.

The council has spent £22m to date on improvements, including on asbestos remediation and building the George Lucas stage in 1999. The site’s market value is estimated as ranging from £40m to £100m, depending on future use.
 

“Due to the age of Studios, much of it built in early 1900s, the site demands significant investment in its major infrastructure such as roofs, flooring, replacement of windows, replacement of electrical wiring and mechanical plant replacements,” said the report. ”The list is exhaustive and the recent asbestos findings along with remediation works, has brought matters to a head.”
 

Labour and Liberal Democrat leaders, who took over Hertsmere council from the Conservatives at the May elections, have proposed to pay up to £90,000 in consultancy fees to map out a “way forward”.
 

The council is looking for a specialist consultant to provide market intelligence and industry trends to help it make a fully informed decision future investment in Elstree.
 

Proposals will be discussed at a cabinet meeting on Wednesday.
 

A spokesperson for Elstree Film Studios said: “Elstree is a thriving studio, but with ageing infrastructure it is prudent to look at investment and revitalisation. The new Platinum Stages opened last summer and are a great example of Hertsmere Borough Councils (HBC) commitment to the site and continued investment. However, HBC must demonstrate value and will explore multiple options regarding the future of the site.”

This article first appeared on out sister site, Screen Daily. 
 

Image source: Netflix – the basement of Ipatiev House on Stage 5, Elstree Studios, from Series 5 of The Crown.