The BBC is reportedly pressing ahead with a plan to sell the television studios where EastEnders is made. It is understood that the broadcaster is seeking a buyer for its Elstree facility in order to boost its income.
The Telegraph reports that commercial real estate firm Lambert Smith Hampton has been hired to find potential purchasers, according to an advertisement seen by the newspaper. The advert is said to describe the potential sale as "a once-in-a-lifetime opportunity to acquire an iconic piece of production history and write the next chapter" with the BBC open to "a range of potential recycling structures."
The site in Borehamwood, Hertfordshire, dates back to 1914. It was sold to the BBC in 1984 - as well as being home to EastEnders' Albert Square set, the studios were used to film Top of the Pops for a full decade from 1991 to 2001.
The Telegraph reports that Elstree is believed to have a net worth of around £40 million, and that BBC executives view the sale as a chance to "cut operating costs and reduce carbon emissions". The corporation would continue to use the facility under a lease agreement.
The newspaper quotes a spokesman for the BBC as saying: "As part of our ongoing review of the BBC real estate portfolio, we are looking into selling Elstree and leasing out parts to continue producing EastEnders. There is a long-term commitment to continue using Elstree for parts that support EastEnders."
The BBC is facing a drop in funding as the Government has decided to freeze the licence fee at £159 for the next two years until April 2024. As a consequence the BBC needs to save another £285 million.
Earlier this year Culture Secretary Nadine Dorries she wanted to find a new funding model before the current deal expires in 2027, calling it “completely outdated”. The BBC spent £87 million on a new EastEnders set which began to be used at the start of this year - the project, due to be finished in 2018, hit delays and went £27 million over budget.
