The deal guarantees Netflix exclusive access to most of the facilities at Shepperton’s west London studios, including its 14 sound stages, from October.
Netflix has struck a deal to set up a permanent production base at Shepperton Studios, home to films from Alien to Mary Poppins Returns, as the company plans to spend more of its $13bn (£10.3bn) annual production budget in the UK.
Previous reports suggested Netflix was lining up a long lease deal at Pinewood Studios.
Netflix has significantly increased its European production slate this year, with 221 projects, including 153 originals with a budget of well over $1bn.