EastEnders spoilers reveal that BBC just dropped a bombshell! They’re selling off their legendary Elstree Centre, which also houses the set of the iconic soap EastEnders. What will happen to our favourite Albert Square now? Fans of the BBC soap need not to worry as Elstree will continue to be the home of Albert Square. That’s a relief, but how?
BBC has agreed to sign a lease for Albert Square from its new owner. The deal will enable BBC to continue utilising sections of the studio campuses for the next 25 years. The BBC finished building the EastEnders set just two years ago, so why the sudden move to sell the centre? Keep scrolling to find out!
EastEnders Spoilers: The Crux of the Deal
The latest EastEnders spoilers drop a big news. BBC has decided to sell its famous Elstree Centre to insurance giant- Axa. They reportedly sought £70 million for the property. However, Axa has not revealed the price it will pay for the 16-acre massive site to the public. Moreover, the deal was struck two years after the BBC rebuilt the EastEnders set. The project incurred £87m, which was over budget by £27 million. The project saw the completion four years later than the expected timeframe. Why pull the plug just two years after putting the finishing touches on the set?
Back in March 2022, the BBC was bashed for spending a whopping £87m on the new EastEnders set. The EastEnders spoilers also suggest that BBC did the financial extravagance to compete with the HD cameras and TV screens for that legit vibe. But, boy, did they catch heat for spending so lavishly on building that set. Subsequently, the broadcaster needs to find £500 million in annual savings. The site sale is part of an ongoing review of the BBC’s property portfolio to optimise value for licence fee payers.
What Axa Says About the Purchase
Axa would revamp the historical centre to leverage the surging demand for UK film and TV studios. John O’Driscoll, Global co-head of Real Estate at AXA IM Alts, said, “With the signing of BBC Elstree Centre we will have acquiring one of the oldest working TV and film studios in the UK.” He added that the centre has a history of 110 years. And that the deal allows them to invest in the site to create new world-class studios. John elaborated on the site, “The whole area has a long and illustrious history of producing some of the world’s most celebrated films and television series. He concluded, “Under our stewardship, we aim to continue that legacy.”
The BBC’s Elstree complex has been the filming location for popular shows such as Children in Need, Casualty, Holby City, Top of the Pops, etc. The sale relates specifically to the BBC Elstree Centre and includes the wider Elstree Studios. It is where filmmakers have shot iconic films like Star Wars and TV shows, including The Crown. What do you think of the deal? Tell us in the comments. Keep reading TV Season and Spoilers for all the exciting EastEnders spoilers, updates, and news.