The UK’s Garden Studios’ parent company Arts Alliance has launched a co-production initiative, aimed at supporting independent films shooting at the central London facility.
Arts Alliance Productions will be the co-producer on the projects. The scheme will target films in the £5-10m range with support from a combination of equity investment and a cashflow facility, helping to complete financing packages. The initiative initially has a £17m revolving credit facility, but this is expandable with potenital future partners.
The initial target is to support between five and eight films per year.
It chimes with the implementation last year of the UK’s enhanced Audio-Visual Expenditure Credit (AVEC) incentive, the Independent Film Tax Credit (IFTC), for films with qualifying spend under £15m.
“We work very hard to be accessible to independent filmmakers, challenging them to embrace technology and to get more artistically out of budgets by delivering projects faster to create value for all”, said Thomas Hoegh, founder and CEO of Arts Alliance and Garden Studios.
“Our goal is to support producers with quality projects to deliver on their ambitions and thus evolve relationships and attract the very best future projects to shoot at Garden Studios.”
Established in 2021, Garden Studios recently opened four additional sound stages, bringing the total to eight. The site now comprises 98,000 sq ft of stages, it is the only central London sound stage with a permanent virtual production stage.
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