Television commercials are to shoot in Liverpool over a seven month period as the city council looks to attract more productions to its specialist pop-up studios.
Subject to Liverpool Council ’s cabinet signing off, a 33-week lease is to be handed out for a series of advertisements to be shot at The Depot off Edge Lane. A report ahead of the executive meeting on Friday has detailed how the local authority has secured a series of smaller licence agreements for various television commercials “to test the performance of the studios and to gain traction and credibility in the sector.”
“Discussions with the proposed tenant have taken place resulting in the agreement of an aggregated 33 week letting of the property.” It is said that the council will positively benefit from the revenue generated by the scheme which will “further contribute to the repayment of the capital project and grant funding”.
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The report added: “The letting will help the council to offset the business rate liability and costs towards security, maintenance, and repair of the property against any revenue generated.” The cost of The Depot came to almost £4m and the council has until 2026 to recover the cost of the build before the revenue and capital levels drop to their traditional use as industrial/commercial accommodation.
Documents submitted to the council ahead of the meeting said: “The retention of the physical scheme will be determined, subject to planning, at the end of the current consented period. The retention of the asset as film and television production premises will be subject to the performance measures of the scheme based on relative financial, social, and environmental successes as outlined in this and previous cabinet reports.”
“Without the grant of the letting, the council will not meet its required repayment terms for the scheme and there will be no potential for profit from future revenue receipts. In addition, there will be no regeneration benefit prospects for the immediate or wider community from this scheme.”
All lettings at The Depot must be signed off by the commissioners appointed to oversee the city. The proposals are slated to be heard behind closed doors later this week owing to potential commercial sensitivities.
