The BBC has agreed a deal to promote the EastEnders set and its different studios at Elstree, Hertfordshire, as a part of a drive to lift funds.

The TV cleaning soap will nonetheless be filmed on the positioning, nonetheless, after the BBC additionally agreed to lease again Albert Square from its new proprietor, insurance coverage large Axa.

The value Axa can pay for the 16-acre web site has not been disclosed, however the BBC was reportedly searching for £70m.

It comes because the broadcaster has to search out £500m in annual financial savings.

“The sale of the Elstree Centre site is part of an ongoing review of the BBC’s property portfolio in order to provide the best value for licence fee payers,” chief monetary officer Alan Dickson mentioned.

“As part of the sale, the EastEnders site has been secured on a long-term lease and Elstree will continue to be the home of Albert Square.”

The sale comes two years after the BBC completed rebuilding the EastEnders set at a value of £87m, which was £27m over price range and 4 years late.

The BBC’s Elstree complicated has additionally beforehand been residence to programmes like Children in Need, Casualty, Holby City, Top of the Pops and election night time broadcasts.

But it doesn’t embrace a separate close by studio complicated the place Strictly Come Dancing relies, and the place movies like Star Wars and TV exhibits together with The Crown have been shot.

The BBC additionally not too long ago offered its Maida Vale music studios and is because of transfer out of Wogan House, in central London, which is residence to Radio 2.

Axa mentioned it might redevelop the historic Elstree complicated to capitalise on the excessive demand for UK movie and TV studios.

John O’Driscoll, international co-head of actual property for AXA IM Alts, mentioned: “The structure of the transaction allows the BBC to continue its production on the site for at least another 25 years, while providing us with the opportunity to invest in the site to create new world-class studios.

“The entire space has an extended and illustrious historical past of manufacturing a few of the world’s most celebrated movies and tv collection and, underneath our stewardship, we goal to proceed that legacy.”