AIR Studios, London, has been sold to Russian investor
Posted on: Friday 5th of October 2018
In May, we brought you the news the world-famous Hampstead facility, founded by Beatles producer George Martin, was for sale. Now it has been confirmed AIR Studios has been sold, the new owner has not been officially announced, but has been named by the Financial Times as Maxim Demin, a Russian businessman who has owned British Premier League soccer club Bournemouth since 2013. Denim likes to keep a low profile, and does not give press interviews. The Swiss-based tycoon held an executive position at Russian oil and gas company Tasneft as well as part-owning Zenit Bank.
In an interview with a Hampstead local newspaper, AIR co-owner Paul Woolf said: “We had 25 people interested, and two who were serious. He turned up to look around and he really liked it and wanted to buy it. Our whole thing was about handing on the baton to the right person. We wanted somebody committed to the studio and passionate about music, and he fitted that criteria.” Two new directors have been registered with Companies House, Stephen Burgess and Nicholas Rothwell. Rothwell, also based in Switzerland, is a director at AFC Bournemouth.
“They walked in and said, ‘I want it.’ They were absolutely determined to buy it. They said they love music. Had always wanted to buy a recording studio and wanted to continue the process we had started,” Woolf explained.
The studios are located in Lyndhurst Hall, a Grade II-listed former church and missionary school in Hampstead, north London, designed by Alfred Waterhouse, who was also the architect of the Natural History Museum in South Kensington. Over the years, AIR studios has recorded some of the most iconic names in music with Paul McCartney, Adele, Coldplay, Muse, George Michael, Kate Bush, Liam Gallagher, Dave Gilmour and U2 among the many world famous artists to have recorded there.