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Britain's Got Talent and X Factor studios in Wembley set to close

Fountain Studios has hosted events and TV shows since the late 1980s, including the Friends two-part episode: The One with Ross's Wedding

Sold: Fountain Studios, Wembley

Fountain Studios in Wembley Park looks set to close after being sold to a Wembley property developer for £16 million.

Avesco Group plc, which owns the iconic building, sold the premises after Fountain Television limited reported financial losses last year.

The television studio located in Wembley has been used for TV and shows since the late 1980s.

A host of shows have been filmed at the location in the past, including The Cube, The Voice , Pop Idol, All Star Mr & Mrs and even Friends episode The One with Ross's Wedding .

More recently, the studio is known for the filming location of X Factor and Britain's Got Talent .

According to the company, the sale of the premises is likely to lead to the closure of the Fountain Studios business in Wembley, and Fountain is therefore beginning a consultation process with its staff.

Reports suggest that the building will be demolished to make way for housing as it has been sold to local property developer Quintain.

Richard Murray, chairman of Avesco, said: “Fountain Studios and its outstanding team of people have a long and proud history of television programme making in Wembley and the studios have over the years been home to many very successful television shows.

“However, the physical constraints of the Wembley site have limited Fountain’s ability to grow, while at the same time property values in Wembley have increased substantially.

“The disposal of the Fountain site will enable the group to reduce its net debt to very modest levels and, as a board, we believe that a far better return on capital is now available from investment in other parts of the group where there are greater opportunities.”

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