Lakeside Studio and Penrith Lakes Development Corporation have announced a commercial agreement to develop a purpose-built film studio and production training facility in Western Sydney to service the growth in demand for new content and Australia’s creative industry.
The new Lakeside Studio complex, incorporating next-generation technology to produce motion pictures and television series will be set over 96 acres (39 hectares), situated amid the growing tourism and tech precinct immediately west of Sydney and the new Aerotropolis and 24/7 international airport.
Lakeside Studio will look to capitalise on the growth in international film productions that have been produced or are presently in production, with recent enquiries from overseas filmmakers estimated to be over AUD$2 billion (€1.24bn) in production value.
The multi-million-dollar facility planned over 3 phases will eventually feature 10 sound stages of various sizes aimed at attracting large-scale international productions, as well as catering for the domestic market. Number One sound stage with an area of 48,000sqft will be the largest sound stage in the Southern Hemisphere, with a total sound stage area of over 226,000sqft.
Lakeside Studio development will be spearheaded by James M. Vernon in the role of Managing Director, an industry veteran who has 35 credits as executive producer and producer including Hacksaw Ridge, The Kings Daughter and Predestination. He is joined by his daughter and fellow producer Kristy Vernon in the role of Director Studio Operations, and former Warner Bros International President Wayne Duband, who will serve as the international studio consultant.
James M. Vernon, said: “As streaming platforms race to produce original content, surging demand for studio sound stage space has created a worldwide shortage of studio facilities. Featuring extensive purpose-built digital production facilities, Lakeside Studio is set to become a new powerhouse of creative production to attract international film and television productions and deliver a world-class studio environment.”
Duband added: “Australia’s film industry is thriving and over the last decade has developed a global industry reputation with a slate of productions that have had an overwhelmingly positive shooting experience. This was further fuelled by the way the country handled the global pandemic with an unprecedented boom in both local and international film production. Combined with financial incentives, a wealth of talent, a range of locations, Lakeside Studio will be perfectly positioned to meet the demand.”
Kristy Vernon said: “Sydney is home to some of the best creative talent anywhere in the world, so every effort will be made to nurture, harness and promote the emerging writers, directors and producers, but in particular provide the industries future top line crew personnel by way of traineeships via the establishment of the Lakeside Studio Film Academy.”