The sale of the BBC’s Maida Vale Studios in London to a consortium led by the German composer Hans Zimmer has been confirmed.

Zimmer was always in the frame to purchase the recording studio complex but a late run from another consortium led by film director Matthew Vaughn and billionaire Sir Len Blavatnik pushed Zimmer well beyond the £10m sum the BBC was reported to have agreed to sell the venue for.

A statement released by the BBC has now confirmed the sale:

“Maida Vale has been sold to a partnership between Tim Bevan & Eric Fellner, and Hans Zimmer & Steven Kofsky. The purchasers have agreed that Maida Vale’s legacy as a centre for pioneering music-making will continue, with plans to keep the original façade of the building and to preserve the ethos of Maida Vale. Initial plans also state that the building will remain as a studio space, with a multi-million pound refurbishment plan for its existing studios. There will also be the creation of a not-for-profit educational facility, and a long-term commitment to providing local jobs, innovation and investment.”