Member Article

Husband and wife video production duo secure £1.36m expansion following funding deal

TV and online video production company Cherryduck Productions Ltd has acquired new premises near Tower Bridge thanks to a £1.36m funding agreement.

The new premises are located on Sampson Street and consist of a 8,000 sq ft site, just next door to Cherryduck’s current studios, that the production group plan on rebuilding and fitting out with video editing suites, sound studio, meeting room and a showcase cinema.

Plans are also afoot to add a Shoreditch-themed bar area as well as creative hot-desking spaces to attract creative types in the area and encourage collaboration with Cherryduck’s projects.

Once completed at the end of the year, the expanded premises will house 23 local staff employed from Tower Hamlets and other local boroughs, along with 11 freelancers all working on their in-house productions.

Founded in 2011 by husband and wife duo James and Michelle Vellacott, the business has attracted major clients including l’Occitane and Quaker Oats, contributing to revenues of £1.6m.

James Vellacott, Director of Cherryduck Productions Ltd, said: “Acquiring the additional premises is a real turning point in our business as we look to push the Cherryduck brand further and build on what we do well.

“The rebuild is underway and we are confident the finished look will meet the approval of our new and existing clients and will allow us to proudly market ourselves to the world.”

The acquisition was funded thanks to a £1.36m loan from the Royal Bank of Scotland, who have worked closely with the business since its foundation five years ago.

Tom Meggison, Senior Relationship Manager at Royal Bank of Scotland, added: “We have enjoyed working with the Cherryduck team since it was founded and continue to share in their vision of building on their reputable brand across London.

“We wish James and Michelle all the very best as they bring the new premises to fruition, which we have no doubt will prove a sound investment in the long-term.”

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