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Cinematic gold mine on the Coast

By Greg Bell

The Gold Coast is home to a plethora of holiday destinations, entertainment venues and blissful, sandy beaches. But could one of its greatest jewels lie beneath the water instead? This is the question that the 2018 DC Comics blockbuster 'Aquaman' will attempt to answer, with filming set to begin on the Gold Coast shortly.

Aquaman – King of The Coast

A man who can breathe underwater, swim at breakneck speeds and communicate and command aquatic life sounds like something out of a comic book – and you'd be right to guess it. The DC Comics superhero, played by Game Of Thrones star Jason Momoa, made headlines when his solo film was announced in October 2015.

According to ABC, shooting will take place at Village Roadshow Studios at Oxenford, on the Gold Coast, as well as other parts of south-east Queensland.

Queensland Premier Annastacia Palaszczuk said the Sunshine State was developing a reputation as a leading destination for movie makers, with the latest incarnation of the 'Thor' series recently being filmed in both The Gold Coast and Brisbane.

"Last financial year was Queensland's best year in terms of attracting production expenditure since 2002-03, a record year of $233 million," Palaszczuk said.

Palaszczuk also said Queensland's film production crew are the amongst the best in the industry, with the upcoming Aquaman film expected to create around 600 jobs during the production stage.

"Our studios offer the biggest sound stage in the southern hemisphere and Australia's largest purpose-built water tank," she said.

Funding solidifies Gold Coast's star power

To entice filmmakers into making motion pictures, often there are tax breaks and perks that can help promote a certain area. For Aquaman, the Federal Government will provide $22 million in tax breaks for the production of the film.

While this may leave a sour taste in the mouths of many, the positives far outweigh any potential costs, with the increase of jobs, tourism and commercial activity providing sustainability long into the future and beyond the end of filming.

Furthermore, Hollywood blockbusters carry a certain level of mystique alongside, with many flocking to catch a glimpse of the Hollywood stars and the area. According to Sky News, the production of Aquaman is projected to bring over $150million to the local economy.

Treasurer Scott Morrison said the Government recognised the importance of the Australian film industry, reports ABC.

"This is part of the positive transition that's happening in our national economy. We want to continue to back that in so we're backing in Aquaman, we backed in Thor, and we're backing in the Gold Coast."

Queensland University of Technology Creative Industry faculty professor Stuart Cunningham said the exchange rate was working in favour of Australia's film industry.

"The uptick has been going on for at least a couple of years. It's got significantly to do with the exchange rate," he said.

"The exchange rate during the global financial crisis saw the Australian dollar at a higher value than the US dollar. Of course that meant times were very tough for the international film industry both here [in Queensland] and the rest of the country."

According to ABC, Mr Cunningham said Queensland needed to stay competitive against the "dozens and dozens" of major sites across the globe that are bidding for large-budget Hollywood and Japanese productions.

While you may not be able to control the actions of sea creatures, you are in control of your property investments. If you want to feel like the king of the Coast, get in touch with the team at Ray White Surfers Paradise today, we can help advise on the best commercial investment opportunities in the area.

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