Water’s Edge, the Dundee commercial dockside development owned by Scottish games entrepreneurs Chris van der Kuyl and Paddy Burns, is planning its next stage of development having secured its two newest tenants.
London-based mobile games developer Hutch is re-locating its existing Dundee studio to the site following its acquisition in December by Stockholm-based Modern Times Group. Financial advisory specialist Hutcheson Mearns is also expanding into Water’s Edge, which opened in 2019 as the first commercial office venture from Chroma Developments.
The 29,500sq ft facility houses several technology and creative firms including 4J Studios, which was co-founded by Mssrs Burns and van der Kuyl and is best-known for developing the console version of Minecraft.
The site is also home to Chroma Ventures, the parent company of Chroma Developments. Chroma Ventures was launched earlier this year as a means of consolidating the portfolio of investments held by the 4J co-founders.
Stewart Clark, managing director of Chroma Developments, said he was “delighted” that both Hutch and Hutcheson Mearns had chosen Water’s Edge to expand their operations.
“The growing site has fast become an incubator for great ideas and both companies fit perfectly with our existing innovative community,” he added. “We are currently planning the second phase of development at Water’s Edge, as well as considering other potential opportunities in Dundee’s dockside and elsewhere.”
Other tenants at Water’s Edge include a number in which Chroma Ventures holds an investment stake, such as marine technology developer Ace Aquatec, insurance platform Broker Insights, indie game studio Puny Astronaut and another independent developer, Stormcloud Games.
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Mr Burns said he hoped both Hutch and Hutcheon Mearns would find “the inspiration” at Water’s Edge to further their growth.
“The abundance of talent in Dundee and the energy in the wider tech ecosystem are making Scotland a greater draw for major digital employers,” he said. “We believe good energy is contagious and having top-class facilities and partners in the city ensures we capitalise on this remarkable opportunity.”
Among its other investments, Chroma is also a shareholder in Edinburgh-based ready meal provider Parsley Box, which joined the Alternative Investment Market earlier this year in flotation valuing the business at nearly £84 million.