MEDIA RELEASE 15 March 2021
With the embrace of the online world accelerating during the COVID period, internationally - acclaimed immersive media studio Phoria has doubled its office space in Fitzroy to become the sole tenant of the heritage-listed former Salvation Army Hall building.
Fitzroys Associate Stephen Land negotiated the six-year lease plus option for Level 1, 297 Napier Street at $66,000 per annum plus GST on behalf of a private investor.
Already the occupant of the building’s ground level, Phoria took the 330sqm space on level one, extending its footprint to 660sqm across both levels. Fitzroys leased the ground floor to Phoria three years ago.
The firm develops immersive media through virtual reality and 360-degree film, and has designed, built and launched multiple virtual, augmented and mixed reality platforms.
Phoria’s clients include ANZ, REA Group, City of Melbourne, Telstra and University of Melbourne, and it has worked on projects for Twitter and the ABC. It has recently created the virtual reality nature documentary series ecosphere in partnership with Facebook’s Oculus, the World Wide Fund for Nature (WWF) and Silverback Films, as well as augmented reality film Rewild Our Planet, in partnership with Netflix, the WWF and Silverback Films, and featuring Sir David Attenborough. Both were released in 2020.
Land said Phoria had initially explored the possibility of expanding into Level 1 early last year, should it become available, but that did not eventuate due to the disruption of the pandemic. Groups were shown through the space between the Victorian lockdowns, and Phoria’s interest was reignited late in the year.
He said the character-style office with exposed ceilings generated a substantial amount of enquiry from a range of creative and tech tenants.
“There were a number of home/office enquiries, given the building’s Mixed Use zoning and following on from the increase in working from home during 2020, however, this was not the landlord’s preferred use.”
Land said lifestyle considerations are playing an increasingly prominent role for businesses and those looking for home/office locations.
“The property is located close to Brunswick Street, near the corner of Johnston Street, as well as Smith Street, Collingwood, both among Melbourne’s most eclectic lifestyle and hospitality strips.”
“These vibrant precincts are a huge attraction to businesses wanting to attract and retain top-tier talent, as well as those looking to work from home. Having the workplace in these locations offers the chance to easily get a quality coffee, or drinks or a meal, and break up the day with a meeting out of the office or catch-up with friends,” Land said.
“Highly-accessible locations are also front-of-mind. This inner-city location is easily accessible by car with major arterial roads nearby, as well as multiple tram and bus routes.”
Land said the fluid movement of tenants between the CBD and different inner-city and inner suburban markets saw groups looking to relocate from Cremorne after being priced out of that area, and even some CBD tenants looking for more cost-effective rental options.
He said Phoria’s lease demonstrated the ongoing attraction of Melbourne’s popular inner- north to creatives and tech firms.
