Chroma Developments will invest up to £3m over the next two years in creating a new events hub on Dundee’s waterfront, which will also be home to the visual effects technology lab announced by Abertay University last week.
A meeting of Dundee City Council’s planning committee on Monday approved proposals to transform vacant space at the south end of its Water’s Edge building on Camperdown Street.
The Water’s Edge site is Chroma’s first major development, revitalising one of the oldest buildings in the former Dundee docks area - the historic ‘Shed 25’ - to create 17,500 square feet of Grade-A office space.
It is home to games companies 4J Studios, Stormcloud Games, Puny Astronaut and Hutch, as well as Ace Aquatec, Broker Insights, Saturn Fluid Engineering, Hutcheon Mearns, Pure Energy and flexible co-working space Flux.
Last week the UK Government published its Creative Industries Sector Vision, which aims to maximise the potential of the UK’s creative industries to generate an extra £50bn for the economy and support a million more jobs by 2030.
This included plans for a consortium led by Abertay University to host one of four new labs specialising in the future of virtual production, a new cinematography technique using computer-generated imagery, augmented reality and motion capture to create virtual sets for the film, TV and performing arts industries. The research and development lab is set to combine expertise from Abertay, the University of Edinburgh, 4J Studios, CodeBase and Interface.
Stewart Clark, managing director of Chroma Developments, said: “We’ve been keen for some time to kick-start the next phase of development at Water’s Edge, so the planning decision, coupled with the announcement of plans for the R&D lab to be based here, means we can now make that investment in creating these new facilities over the next couple of years.”
Ric Russell, founding partner of architecture firm Nicoll Russell Studios, said: “The initial Water’s Edge development by Chroma Developments has proven to be extremely successful, transforming a derelict dockside transit shed into a contemporary workspace which has appealed to the media and digital sectors.
“This next phase will bring even further life into the area by creating a uniquely sited multi-purpose facility which can provide for a range of activities and events, many of which will have significant synergy with Dundee’s digital creative industries.”
Chroma Developments is part of Chroma Ventures, which was launched in 2021 by 4J Studios founders Paddy Burns and Chris van der Kuyl, as a means of consolidating their portfolio of investments.
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