County Wicklow will be the home of Ireland's largest film and TV studio when Greystones Media Campus opens its doors in 2024.
The new state-of-the-art film and television studio campus will house 670,000 square feet of studio space on 44 acres, including 14 state-of-the-art sound stages.
The first 7 sound stages and associated office, workshop and backlot spaces will be delivered in mid-2024.
Hackman Capital Partners and partner Square Mile Capital Management, the group behind the acquisition of Ardmore Studios in Wicklow and Troy Studios in Limerick last August, will operate the new facility.
The partnership’s affiliate, The MBS Group, will assist in the purpose-built studio design and oversee studio operations while providing production services and equipment rentals when the new studio campus opens its doors.
In Association with
The two-phased development is a joint venture with the Ireland Strategic Investment Fund (ISIF) and Capwell, a Sisk family investment vehicle. The total investment in the project is estimated at nearly €300 million
With the increasing demand for international and domestic productions seeking out existing space in the film industry, this new campus will double the high-end film and television stage capacity in Ireland.
Welcoming the "significant" investment into the film industry Minister for Finance, Paschal Donohoe said: "This investment is reflective of the positive work done by the industry over the last number of years. It is also indicative of the impact of the long-standing State support for the expression of Irish and European culture through audio-visual works and the creation of quality employment opportunities for those working within the sector.
"This joint venture by the Ireland Strategic Investment Fund and its business partners will enhance Ireland’s ability to capitalise on the high demand for content by promoting our country as a location for both foreign and domestic producers.”
The audio-visual sector is currently worth over €1 billion to the Irish economy, with approximately 12,000 people employed in film, television and animation production. The new development in Greystones will contribute to creating 1,500 new jobs once it is operational and 450 jobs during the construction phase.
Michael Hackman, Founder and CEO of Hackman Capital Partners, said he was "thrilled" to expand their operations in Ireland, adding “we see Ireland as a premier destination for content creators across the globe, and we’re committed to seeing it grow exponentially.
"There is enormous talent here, not to mention a stunning landscape and some of the industry’s best financial incentives for filmmakers.”
Square Mile Capital CEO Craig Solomon noted, “The demand for modern, well-run studio facilities in Ireland is very strong and is expected to remain so for the foreseeable future. This opportunity to help meet that demand, and deliver a superior level of operating support to the creative companies that will use the facilities, is very attractive to us."
Nick Ashmore, Director of the Ireland Strategic Investment Fund, said, “This is a major step forward in progressing an investment that will cement Ireland’s place as a world-leading location for generating film and TV content. As Ireland’s sovereign development fund, we are delighted to join forces with top-tier global film studio investors and operators to help meet the immense global demand for content for the world’s biggest streaming services as well as cinema and TV."
