The studios have been purchased from TVNZ by Avalon Holdings Ltd, a consortium headed by businessman John Feast and two Avalon staff members who each hold a minority shareholding.
“We are delighted with the outcome as we have fought hard to keep the studios as a working studio here in Lower Hutt,” says Mayor Ray Wallace.
“There has been months of speculation about the future of Avalon and at one stage we feared it would be converted into office blocks or industrial use.
“We have lobbied hard through various channels among the Minister of Broadcasting, TVNZ itself, and hosting film companies to assess the potential of Avalon for future projects – among them interests from China and India.
“We see this as a significant opportunity to attract major film and television interests to the city as we build on existing strengths across the Wellington Region.
“The new consortium will endeavour to retain some of the existing staff.
“This confidence in the future of Avalon Studios is a big boost for Lower Hutt and offers potential to encourage young people to develop new skills in film and television.
“Avalon is another high profile world class facility that is located here in Lower Hutt along with international companies and science – based industry where people are living local and trading globally.
“Lower Hutt is a city with lots of appeal and is attracting young families and professionals looking for a mix of opportunities for local jobs, recreation, and good education for their children within close knit communities.
“Avalon is a good example of local enterprise and investment for future growth and development in the area of film and television,” the Mayor says.