A 10-year lease for the $20 million Innovation Hub, situated within the Entrepreneur and Innovation Centre (EIC) at Adelaide’s Lot Fourteen, has been signed by the state government, as the project receives approval for its variation of planning design.
The Innovation Hub, an Adelaide City Deal project, will be placed geographically and symbolically at the centre of Lot Fourteen’s burgeoning innovation district.
Quintessential Equity has worked with COX Architecture on the new design, with the building set to encompass a series of twisting and interconnected floorplates, a faceted façade, public atrium and landscaped roof terrace.
Lot Fourteen is the former site of the Royal Adelaide Hospital and is being transformed into a vibrant hub for research, innovation, and entrepreneurialism in hi-tech, defence, space and creative sectors.
Overlooking the district’s central park, the Hub will be dedicated to fostering idea exchange, accelerating commercialisation and business growth, while catalysing joint research between business, universities and the public sector.
It will capitalise on precinct co-location with some of the world’s leading data science capabilities and intelligence including MIT bigdata Living Lab, Amazon Web Services and Google Cloud.
Federal Minister for Communications, Urban Infrastructure, Cities and the Arts, the Hon Paul Fletcher MP, said the Hub would provide an ideal setting for collaboration and be a strategic cornerstone to attract the best global talent and world-leading businesses to South Australia.
“The Morrison Government has committed up to $20 million through the Adelaide City Deal towards the establishment of the Innovation Hub, which aims to foster idea exchange, entrepreneurship and innovation,” Minister Fletcher said.
“The Adelaide City Deal continues to support the growth and revitalisation of the city, boosting South Australia's skilled workforce and backing industries at the forefront of innovation and cutting-edge technologies.”
The state government will seek expressions of interest (EOI) in 2022 year for a suitably qualified partner organisation, focused on business acceleration and commercialisation, to operate and manage the Innovation Hub.
South Australian Premier Steven Marshall said the Innovation Hub will provide a massive boost to Lot Fourteen’s entrepreneurial ecosystem.
“This brand new Innovation Hub is going to create hundreds of jobs for decades to come,” Premier Marshall said.
“We’re very excited to start developing plans for the Innovation Hub, with next steps to determine the process for finding an operator for the space.
“Collaboration is at the core of the Innovation Hub. Being at the centre of Lot Fourteen, our vision is to create a curated ecosystem of entrepreneurs, researchers and global companies to help build the future of innovation and a pipeline of jobs for South Australia.”
The striking, state-of-the-art circa $400 million EIC, which includes the Innovation Hub, will be developed, owned and managed by Quintessential Equity. The company is already managing a strong level of inquiry from interested tenants in hi-tech sectors.
Executive chairman of Quintessential Equity, Shane Quinn, says the lease signifies both governments’ commitment to deliver a world-class collaboration and innovation facility in Adelaide.
“We’re incredibly excited to be developing the Innovation Hub, which will be the centrepiece of the EIC and a gateway to attracting and retaining world-leading talent to Adelaide,” Mr Quinn said.
“Embodying the office and workplace of the future, the EIC will be a powerful generator of jobs of the future – and this dedicated Hub will be a place where ideas, research and entrepreneurship can thrive.
“The revised design is more functional and accessible as we focus on collaboration and the provision of a healthy and engaging work environment .”
Construction is scheduled to start in mid 2022 and tenants are expected to move in from 2024.
The EIC will be a purpose-built 16-storey and 41,000 square metre facility. The Innovation Hub will be located across two floors, with the ground floor being an open activated area for events and collaboration, accessible for the public and offering indoor and al fresco dining opportunities.
The Adelaide City Deal is a 10-year agreement between the Australian Government, the South Australian Government and the City of Adelaide to grow Adelaide as an innovative and vibrant city.
The three levels of government are working together to deliver projects and initiatives that support the growth of businesses and jobs, encourage the growth of Adelaide's population, and build on the city's global reputation in arts and culture.