HOYTS Named Flagship Cinema for Nicholas Street Precinct

The redeveloped Nicholas Street Precinct will soon have a state-of-the-art cinema with six screens and power recliner seats after securing HOYTS as its newest tenant. 

Dubbed “one of the world’s leading entertainment corporations,” the movie company will be established at the Venue Building and open in late 2023, offering more than 90 jobs.

The site was formerly occupied by Birch Carroll & Coyle Cinemas, which shut down in mid-2019 due to the “declining retail environment” and the redevelopment of the precinct.

HOYTS Nicholas St Precint
Photo Credit: Google Maps

“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,” Ipswich Mayor Teresa Harding said.

“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.”

Location IQ, a property economics consultancy, produced a report indicating Ipswich has an undersupply of cinema venues. 

However, the operator of Limelight Cinemas nearby has opened a petition to stop Ipswich City Council’s plan to bring a “foreign mega-conglomerate to operate these cinemas, in direct competition with existing local operators.” The petition has since garnered more than 2,000 signatures. 

Leda Holdings Chairman Bob Ell, who owns the said boutique arts-style cinema just 500 metres away from the Venues Building, said that while he supports the rejuvenation of the precinct, he believes Council should have invested in providing office spaces for companies and government departments instead of more retail and lifestyle tenants.