Lender backs film studio growth with £4m loan
IM Capital has closed a loan of £4m to film company Location Collective. The loan is against the business’ existing property assets and will support future growth plans via acquisitions and securing new sites.
Location Collective, set up by Antony Iredale over 15 years ago, specialises in providing film locations and ‘behind the camera’ production space for native and global content creators.
The company owns and operates the OMA Studio Group, a film studio campus providing 242,000 sq ft of sound stage space, including two of the largest stages in the UK, set within 368,000 sq ft of high-quality production space across four closely clustered sites in Enfield, North London.
There is huge demand for the company’s space and services across the south-east of England as the film and TV sector continues to grow rapidly in the UK due to constant demand for new content and competition for subscribers across streaming platforms.
Ian Hart, from Leeds-based IM Capital, said: “We could immediately see that Location Collective was a great business in a fast-growing sector and we’re delighted to have the opportunity to work with them and provide the initial funding they required. We are already in discussions about providing additional lending to allow them to find new premises and acquire other businesses that will complement the existing operation.”
Erik Meert, financial director at Location Collective, added: “IM Capital had a proactive approach from our first discussion and within a few days, we met with them and agreed the deal. Throughout the process they have been flexible and easy to deal with. We are looking forward to building a long-term relationship to ensure that Location Collective can continue to supply the level of high-quality production space required by our film and TV customers.”