Table Mountain Studios to close

In an unexpected announcement today, DO Productions advised that the Table Mountain Studios in Cape Town are to close in September this year.
Table Mountain Studios’ co-owner Brigid Olen of DO productions advised today that their buy out option for the studios from AECI had been unsuccessful, and as a result of this they would be vacating the site in December.
The offer of R150 million which was market related was bettered by a counter offer of R265 million excluding services, which in real terms made the offer worth over R400 million.
Olen states ‘This offer is un-marketed related and there is no way we can compete. It’s 3 times what we have offered. Rather than staying on for another 3 odd years – which we could – we have decided to re-locate in September.

At this stage we have no idea where we could move to, not when we will be operational again. This is a huge blow to us, and will impact on the industry in the Cape.’
Other film related tenants on the site will need to exit at the end of their lease period which is in July.