11 August 2022
In a major coup for the city, Ipswich will welcome a market leading cinema chain to its flagship development, the Nicholas Street Precinct.
Ipswich Mayor Teresa Harding said council has signed a contract with HOYTS, signalling another vote of confidence for businesses in Ipswich Central.
“HOYTS, founded in Australia in 1909, is one of the world’s leading entertainment corporations with 43 cinemas located across Australia and New Zealand, and we are delighted to see them choose Ipswich,” Mayor Harding said.
“HOYTS currently employs over 2,500 employees, and adding an Ipswich cinema to their stable will also mean additional jobs for locals.
“With the previous cinema operating at this location for 20 years, many Ipswich residents will remember going to the movies in Ipswich Central and will welcome the opportunity to return there again.
“Council has used an evidence-based approach when deciding the best avenue for a return on the investment with reports from Queensland Treasury Corporation, KPMG, Location IQ, Knight Frank and Bull and Bear economics, to ensure ratepayers receive value for money and that lease terms are in line with market expectations and commercial best practice.
“Activating the cinema site is critical to the precinct’s success, which is why council has endorsed additional investment to deliver this important piece of the puzzle.
“The total boost to the local economy from the Nicholas Street Precinct is expected to total $1.196 billion between 2020 and 2032, so in the long-term this is a great outcome for the city.
“The opening of the cinema will be a huge step forward in reinvigorating this area by providing an anchor tenant that will not only bring additional people to the Nicholas Street Precinct but will also create local employment and have a positive economic and social impact on the surrounding areas.”
Ipswich Central Redevelopment Committee Chairperson Councillor Marnie Doyle said a cinema tenant in the Nicholas Street Precinct, coupled with additional dining venues opening, will start a fabulous pre and post-movie ritual that pairs bars and restaurants with a night before the silver screen.
“We are very pleased to have secured world-leading entertainment company HOYTS to deliver a high-end entertainment offering to Ipswich residents,” Cr Doyle said.
“The Nicholas Street Precinct will become home to up to 40 food and beverage, leisure and retail businesses in coming years and while global inflationary pressures have caused some cost increases, this next phase of work will cement the precinct as Ipswich’s go-to place for a fun, full and enjoyable night out.”
HOYTS’ Director of Property and Business Development Tyrone Dodds said HOYTS is pleased to be joining the Ipswich community with the new six-screen state-of-the-art cinema that will feature powered recliner seats.
“Over the last eight years, we have invested approximately $350 million into the Australian industry through cinema refurbishments and new builds,” Mr Dodds said.
“Given the growth in the Ipswich region, we believe it is the ideal location to provide an excellent entertainment experience.
“HOYTS Ipswich is scheduled for completion in late 2023 and will create over 90 jobs in the community.”