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  • AIR Studios up for sale

    Sir George Martin sold the famous studio about six years ago, and the new owners are now putting the famous London studio on the market. They say it's profitable, but not in line with the direction they want to move their company.

    If you have the means, this would be a pretty darned cool studio / complex to own.


    http://www.prosoundnetwork.com/article/air-studios-for-sale/14976

    http://www.airstudios.com/
    **********

    "Look at it this way: think of how stupid the average person is, and then realize half of 'em are stupider than that."

    - George Carlin

    "It shouldn't be expected that people are necessarily doing what they appear to be doing on records."

    - Sir George Martin, All You Need Is Ears

    "The music business will be revitalized by musicians, not the labels or Live Nation. When the musicians decide to put music first, instead of money, the public will flock to the fruits and the scene will be healthy again."

    - Bob Lefsetz, The Lefsetz Letter

  • #2
    No kiddin'. Too much of a commute for me.
    <div class="signaturecontainer"><div class="bbcode_container">
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    Originally Posted By <b>Trace-P38</b><br />
    Flogger wins.

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    Originally Posted by <b>Uma Floresta</b> View Post<br />
    Because we floggers won the music war some time ago.

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    Originally Posted by <b>Mike Riley</b> View Post<br />
    <i>Preaching to the choir Rush in on a whole different level to quote a movie You might listen to Rush but you cant here Rush</i>

    </div>
    </div>
    </div> <a href="http://www.box.net/shared/x85lhnst14" target="_blank">http://www.box.net/shared/x85lhnst14</a></div>

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    • #3
      Let's all go in together. I've got a few hundred I can contribute toward the purchase.
      Ken Lee on 500px / Ken's Photo Store / Ken Lee Photography Facebook Website / Blueberry Buddha Studios / Ajanta Palace Houseboat - Kashmir / Hotel Green View - Kashmir / Eleven Shadows website / Ken Lee Photography Blog / Akai 12-track tape transfers / MY NEW ALBUM! The Mercury Seven

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      • #4
        Let's all go in together. I've got a few hundred I can contribute toward the purchase.


        Someone said the same on Gearslutz and it fell on deaf ears. It'd be a shame if it couldn't survive.
        Do you need live drum tracks? <a href="http://www.drumtracksdirect.co.uk/" target="_blank">http://www.drumtracksdirect.co.uk/</a>

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        • #5
          Price tag ? I didnt see it in the report.
          <div class="signaturecontainer">I like Z Cars<br />
          and Guitars</div>

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          • #6
            Price tag ? I didnt see it in the report.


            If you have to ask, you can't afford it.

            -Dan.
            <div class="signaturecontainer"><i>Well, I've been to one world fair, a picnic, and a rodeo, and that's the stupidest thing I ever heard come over a set of earphones.</i></div>

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            • #7
              If you have to ask, you can't afford it.

              -Dan.


              Like a boat !!! If you cant afford the gas then you dont need a boat. Well I own 2 boats, 2 jet skiis, and 6 cars !! And all have a full tank of gas !!! So I think I can afford it. I just like to know the asking price before I make a sensible offer
              <div class="signaturecontainer">I like Z Cars<br />
              and Guitars</div>

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              • #8
                If you have to ask, you can't afford it.

                -Dan.


                No one who can afford it is not going to lay down the cash without doing their due diligence and one part of that is determining asking price so they would know if that price is anywhere near market value.
                <div class="signaturecontainer">Still Kickin' cancer's ass....<br><br><a target="_blank" href="http://www.bwsvw.org">Blue Water Sailors of the Vietnam War</a><br><br>HCGB Trooper #246<br><br>Psalm 19 Society<br><br><div class="bbcode_quote"><br><div class="quote_container"><br><div class="bbcode_quote_container"></div><br><br>I can't really imagine experiencing the desire for multiple women; one has proven to be taxing enough as it is.<br><br></div><br></div><br></div>Thanks Offy

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                • #9
                  No one who can afford it is not going to lay down the cash without doing their due diligence and one part of that is determining asking price so they would know if that price is anywhere near market value.



                  Very true Dak. But how would you, as a real estate expert, determine value on a facility like that? AIR Lyndhurst is one of the most famous studios in the world - and one of the largest. Would you do comps based on similar size / condition buildings in the same general area as the main valuation criteria, or would you consider the price tags of other similarly sized famous studio facilities elsewhere around the world somehow too? How much do the upgrades as a studio facility (not counting the equipment - merely the architectural acoustics and build-out) figure into the evaluation?

                  I suspect the history of the place would also figure in somehow, but I have no idea how you'd quantify that in terms of the price or worth of the place. I do believe it's a Grade II* Listed building, which means it is a "particularly important building of more than special interest", and as such, it's in the top ten percent of protected buildings in the UK. It's like 3 Abbey Road - except Abbey Road and the zebra crossing are both only Listed Grade II, which is the lesser grade. If they're not going to let Abbey Road be turned into condos, I doubt they're going to allow any significant changes to Lyndhurst. And while it seems to do well in terms of bookings for Lyndhurst Hall, there are a lot more rooms involved in the sale than just that one... which leads to the big question:

                  In this day and age, can anyone keep a facility that big busy enough to pay for it?

                  Obviously they're in a good position in terms of diversification - you've got the ability to do huge scoring dates, as well as live events, post-production for film and TV, pop music sessions, etc. etc. But that's still a ton of rooms to try to keep booked.

                  What do you guys think? Can it be pulled off in the current music biz environment and climate?
                  **********

                  "Look at it this way: think of how stupid the average person is, and then realize half of 'em are stupider than that."

                  - George Carlin

                  "It shouldn't be expected that people are necessarily doing what they appear to be doing on records."

                  - Sir George Martin, All You Need Is Ears

                  "The music business will be revitalized by musicians, not the labels or Live Nation. When the musicians decide to put music first, instead of money, the public will flock to the fruits and the scene will be healthy again."

                  - Bob Lefsetz, The Lefsetz Letter

                  Comment


                  • #10
                    Phil, something like that is probably the hardest to value.. It involves delving into all the various aspects of the building, property and other taxes, the actual overall history of the building, the historical significance, the facility itself as a stand alone entity, Profit and loss statements, utility costs, maintenance history and costs, usage percentage of the various rooms and available facilities & etc as well as comps for other facilities that can be found and are as similar as possible. The value of included equipment is, of course, prorated/depreciated as would be any upgrades.
                    Any valuation would then have to be compared to the asking price and, if less than the asking price, negotiated. If the asking price is under your evaluation after due diligence is complete, you will likely have a good deal but it's still worth negotiating for a lower price.

                    Is it feasible to operate profitably? That would depend not only on the purchase price but the taxes, maintenance and utility costs as well as the percentage of use of the various spaces.
                    So, the overall cost of purchase combined with current would give a general idea and projected profit/loss statement variables would have to be such that the cost of use for paying customers, lesees and other users could be kept low enough to provide full usability of the entire building.
                    <div class="signaturecontainer">Still Kickin' cancer's ass....<br><br><a target="_blank" href="http://www.bwsvw.org">Blue Water Sailors of the Vietnam War</a><br><br>HCGB Trooper #246<br><br>Psalm 19 Society<br><br><div class="bbcode_quote"><br><div class="quote_container"><br><div class="bbcode_quote_container"></div><br><br>I can't really imagine experiencing the desire for multiple women; one has proven to be taxing enough as it is.<br><br></div><br></div><br></div>Thanks Offy

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                    • #11
                      What do you guys think? Can it be pulled off in the current music biz environment and climate?


                      If the endless doom-and-gloom BBC reports are to be believed, it'll probably end up being an empty shell of a building, with no one even being able to stump up enough money to bulldoze it and turn it into X, Y or Z.
                      Do you need live drum tracks? <a href="http://www.drumtracksdirect.co.uk/" target="_blank">http://www.drumtracksdirect.co.uk/</a>

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                      • #12
                        If the endless doom-and-gloom BBC reports are to be believed, it'll probably end up being an empty shell of a building, with no one even being able to stump up enough money to bulldoze it and turn it into X, Y or Z.


                        As a Grade II* building I don't think they can raze it, much like the building on the historical buildings list in the states. You can buy 'em but you can't destroy them, or even do too much to change them, particularly the exteriors.
                        <div class="signaturecontainer">Still Kickin' cancer's ass....<br><br><a target="_blank" href="http://www.bwsvw.org">Blue Water Sailors of the Vietnam War</a><br><br>HCGB Trooper #246<br><br>Psalm 19 Society<br><br><div class="bbcode_quote"><br><div class="quote_container"><br><div class="bbcode_quote_container"></div><br><br>I can't really imagine experiencing the desire for multiple women; one has proven to be taxing enough as it is.<br><br></div><br></div><br></div>Thanks Offy

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                        • #13
                          I don't think they would allow it to be torn down, but on the other hand, if the owners go broke and the building became abandoned, it could easily fall into disrepair and become endangered that way... much like this Grade II* Listed building:

                          **********

                          "Look at it this way: think of how stupid the average person is, and then realize half of 'em are stupider than that."

                          - George Carlin

                          "It shouldn't be expected that people are necessarily doing what they appear to be doing on records."

                          - Sir George Martin, All You Need Is Ears

                          "The music business will be revitalized by musicians, not the labels or Live Nation. When the musicians decide to put music first, instead of money, the public will flock to the fruits and the scene will be healthy again."

                          - Bob Lefsetz, The Lefsetz Letter

                          Comment


                          • #14
                            I don't think they would allow it to be torn down, but on the other hand, if the owners go broke and the building became abandoned, it could easily fall into disrepair and become endangered that way... much like this Grade II* Listed building:


                            Yeah that's pretty much what I'm saying. I mean it'd be fantastic if someone could take over the place and keep it running, but when they're saying that even the great Abbey Road is struggling, it doesn't look great in the long term for the famous old studios in London. Even Olympic went a couple of years ago sadly.
                            Do you need live drum tracks? <a href="http://www.drumtracksdirect.co.uk/" target="_blank">http://www.drumtracksdirect.co.uk/</a>

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                            • #15
                              I already have three of them.
                              <div class="signaturecontainer">Tom Strahle<br />
                              <a href="http://proguitarsecrets.blogspot.com/" target="_blank">http://proguitarsecrets.blogspot.com/</a><br />
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