Re: News & Discussion: CBD Retail
Posted: Sat Feb 02, 2019 9:30 pm
Article below mentions that Built is fitting out offices in the Myer Centre for Technicolor
Technicolor’s move to Adelaide will generate 400 jobs and boost CBD living and lifestyle
Richard Evans, The Advertiser
February 4, 2019 12:27pm
Subscriber only
The pending move by a global media post-production and effects giant to the Adelaide CBD is expected to have an enormous knock-on effect on apartment living and lifestyle in the city centre says the agent behind the deal.
Savills Australia’s Adam Hartley says the decision by Technicolor to base itself its Australian headquarters within Adelaide’s Myer Centre on North Terrace will be a ‘”game changer” for the city.
“The typical industry workforce age demographic here is 25 to 35 and they do not work the traditional 9 - 5pm so access to other resources is imperative. They will want to be close to Rundle Mall and Peel and Leigh Streets and the railway station, “Mr Hartley said.
Media giant Technicolor is moving to 178 North Terrace, Adelaide
The decision by Technicolor to come to Adelaide will generate up to 400 jobs with the French company, which deals in VFX and multiple advanced technology across film, television, gaming and advertising, and is currently advertising for animation and lighting artists in Adelaide.
“The majority of new employees will come from SA and will upskill through an in-house training at the Mill Film technical university,” Mr Hartley said. “A lot of employees may end up living close to the office and there will be a knock on for the CBD apartment market. People coming here from Sydney and Melbourne for example are used to apartment living.”
The first employees are scheduled to set up shop from this April with the rest moving on a staggered basis.
The fit-out, by Built, will be one of the most high tech in South Australia and is expected to come in with a dollar cost about 50 per cent higher than the standard $1000sq m in the Adelaide CBD.
Technicolor has shown its long term commitment to SA by signing a 10 year lease term at what was quoted at $370 per sqm for the 4200sq m space. Adelaide’s Studio 9 has designed the spaces across levels seven, eight and nine of 178 North Terrace.
The office will be self contained over three floors with interconnecting stairs to provide access to all levels without staff having to use the lifts.
To top off the fit-out there will be a roof top deck for all employees, with uninterrupted views out over Government House and towards the sea.
From inspection to conclusion, the deal by the French multinational corporation took nine months but Technicolor is understood to have been considering a move down under for about two years. The success of Rising Sun Pictures on Pulteney St has long put South Australia on the digital/SFX world map.
Technicolor has worked on a huge range of Hollywood blockbusters, including The Shape of Water, The Jungle Book, The Martian, Blade Runner 2049, Wonder Woman and Pirates of The Caribbean: Dead Men Tell No Tales.
Mr Hartley said Technicolor’s entrance to Adelaide would attract more technology-based companies to South Australia
“Ongoing support from the state government and local council will continue to entice a variety of companies to establish footprints in Adelaide,” he said.
Technicolor was handed a $6 million grant from the state’s economic investment fund and expected to inject an economic benefit of more than $250 million into the city over the next 10 years.
Given the numbers of workers under 30 leaving the state, companies like Technicolor are needed to retain and attract younger workers Mr Hartley said.
“Financial incentives from the state government, combined with factors such as lifestyle, competitive business conditions and best in class internet connection via the Ten Gigabit Adelaide network.will become increasingly attractive to internationally based companies,” he said.
Last year, Savills Australia negotiated a lease agreement for New Zealand technology company, Medi-Map, which opted to set up a base in Adelaide with support from government funding.
