Axa will rebrand its half of the complex as Fairbanks Studios, a nod to Hollywood actor and producer Douglas Fairbanks Jr., who briefly owned and operated the site in the 1950s. A five-story Art Deco–inspired media hub with 60,000 square feet of office space is also part of the expansion.

“With demand for content continuing to increase and with consumers able to choose from a growing number of platforms, the supply of high-quality space for television and film production has not been able to keep pace,” said Rob Samuel, head of UK development at Axa IM Alts. “This project sends a clear signal to production companies that there’s a state-of-the-art new facility ready for them.”

The redevelopment team includes Gardiner & Theobald as project manager, Macfarlane Associates as landscape architect, Sweco on structures and civils, Montagu Evans on heritage, Ardent Consulting Engineers on transport, and Nexus on planning.

Founded in 1914 by Neptune Film Company, Elstree has passed through a series of owners — including ITV — before being purchased by the BBC in 1984. Long a cornerstone of British screen production, the site is now poised for a new chapter as one of the UK’s premier studio hubs.