Tue, 08 May 2018 | BUSINESS SALE
AIR studios, which was set up by legendary Beatles producer George Martin, is being put up for sale.
London Bridge Capital is to handle the sale of the studios, which specialises in pop music recording, as well as orchestral recordings, particularly for the movie industry.
Included in the sale is recording equipment worth some £3m. Revenues at the studio rose to £3m in 2017, from £2.7m the year before, reporting pre-tax profits of £371,000 last year. The studio employs some 35 people.
The business was purchased in 2006 by Richard Boote who now says he would like to “hand the baton on” as George Martin did when he originally sold the studio.
As well as having a rich musical heritage in the genres of pop and rock music, the studio is the only one large enough in London, aside from Abbey Rd, to fit a full orchestra, which has meant it has benefited greatly from the rise of movie soundtracks being recorded in the UK. This industry has gone from strength to strength as a result of tax breaks awarded to the UK film industry in recent years.
The sale also follows a long-running dispute with a wealthy neighbour of the studio, which is located in a missionary school building in the London suburb of Hampstead. The neighbour wanted to excavate a basement for a home cinema, which would have disrupted recording at the studio. It is though that the sale may have been prompted by the happy resolution of this exhausting dispute.
Vendor Boote, stated: “Some of the most legendary soundtracks and records of the 20th and 21st century have been recorded at AIR and we know that there is still scope to expand and grow the business further."
Discover the chance to acquire a reputable RICS-regulated expert witness agency in the chartered surveying sector. The company's main focus is on property-related disputes and claims.
This reputable car servicing and MOT testing company, located near a bustling city centre, is equipped with state-of-the-art technology and has a strong presence in the market with potential for expansion into the electric vehicle sector.
This is a unique opportunity to acquire a well-established scaffolding supply business in Scotland, offering comprehensive services and working with blue-chip clients across various industries.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.