The BBC has sold its historic Maida Vale recording studios to a group which includes German composer and music producer Hans Zimmer.
Maida Vale Studios was bought by the BBC in 1933 and has staged major recordings by the likes of The Beatles, David Bowie and Dusty Springfield and in 2009 Sami Yusuf performed a special Eid Live Session at the venue.
The sale comes as the UK is facing a growing demand for studios with teams behind titles from Marvel to James Bond travelling thousands of miles to film on these shores.
Maida Vale was put on the market last year for about £10.5 million ($13.3m), amid a cash crunch at the broadcaster due to reductions in government funding.
On Monday, the BBC confirmed the site had been sold to a partnership between Working Title film studio bosses Tim Bevan and Eric Fellner, and Zimmer and his long-time business partner Stefan Kofsky.
It will continue to be used a music recording space and the new owners have pledged to create a non-profit educational hub at the site.
“Maida Vale has played such an important part in the BBC’s history and its significance in popular culture is huge," said Lorna Clarke, director of music at the BBC.
“We are so pleased to secure a sale which looks to continue the bright, vibrant future of music making in this iconic building – not only providing new studio spaces but jobs and an education facility.”
The new owners have a multimillion-pound refurbishment plan but stressed they will keep the original facade of the building.
The corporation has previously announced plans for its new BBC Music Studios in East London to house performances, recordings and rehearsals for events such as The Proms.
It said the new site is expected to open in late 2025.
“The venue has become part of the fabric of the UK’s pioneering cultural industry, from helping to nurture new and ground-breaking artists, to housing some of the world’s most legendary musicians," Mr Bevan and Mr Fellner said.
“Through our redevelopment plans we will future-proof the historic site, continuing its presence in the local community with a new education facility, whilst creating a world-class studio space for the next generation of composers, producers, editors and engineers.”
Zimmer said he first worked at the studios 45 years ago.
“I still remember the strong pull, the desire to touch the walls, as if that would somehow allow me to connect to the artists whose extraordinary music had resonated against these walls on a daily basis," he said.
“This was a place of revolutionary science in the service of art, this was a place that inspired you to give your best, where music was performed around the clock and art was taken seriously.”
The studios have also been home to the BBC Radiophonic Workshop, a pioneering electronic sound laboratory where the theme to the long-running television sci-fi drama Doctor Who was created.
But its future had been under threat since the corporation announced in 2018 that it was moving its music studios to a new base in East London.
UAE currency: the story behind the money in your pockets
Other key dates
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Finals draw: December 2
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Finals (including semi-finals and third-placed game): June 5–9, 2019
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Euro 2020 play-off draw: November 22, 2019
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Euro 2020 play-offs: March 26–31, 2020
Normcore explained
Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.
More on Quran memorisation:
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
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Fund-raising tips for start-ups
Develop an innovative business concept
Have the ability to differentiate yourself from competitors
Put in place a business continuity plan after Covid-19
Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.)
Have enough cash to stay afloat for the next 12 to 18 months
Be creative and innovative to reduce expenses
Be prepared to use Covid-19 as an opportunity for your business
* Tips from Jassim Al Marzooqi and Walid Hanna
MATCH INFO
Uefa Champions League, last 16, first leg
Tottenham Hotspur v Borussia Dortmund, midnight (Thursday), BeIN Sports
More from Rashmee Roshan Lall
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
The specs
Engine: 2.0-litre turbo 4-cyl
Transmission: eight-speed auto
Power: 190bhp
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The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
The Uefa Awards winners
Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)
Uefa Women's Player of the Year: Lucy Bronze (Lyon)
Best players of the 2018/19 Uefa Champions League
Goalkeeper: Alisson (Liverpool)
Defender: Virgil van Dijk (Liverpool)
Midfielder: Frenkie de Jong (Ajax)
Forward: Lionel Messi (Barcelona)
Uefa President's Award: Eric Cantona
Family reunited
Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.
She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.
She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.
The couple were married in August 2009 in Winchester and their daughter was born in June 2014.
She was held in her native country a year later.
The bio
Favourite vegetable: Broccoli
Favourite food: Seafood
Favourite thing to cook: Duck l'orange
Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania
Favourite place to travel: Home in Kuwait.
Favourite place in the UAE: Al Qudra lakes
