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A $400 million commercial office building is set to be constructed in the Adelaide-based innovation precinct.
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Quintessential Equity (QE) has officially announced plans to open an Entrepreneur and Innovation Centre (EIC) at the Lot Fourteen precinct in Adelaide.
The building, valued at approximately $400 million, has reportedly attracted interest from key tenants in the defence, space and hi-tech sectors.
The 16-storey, 41,000 square metre EIC has been designed to house collaboration between government and private sector organisations to advance research, operational, and workforce capability.
Construction of the EIC is tipped to generate approximately 430 jobs at project peak, providing employment opportunities for Indigenous South Australians through a partnership with Indigenous Training and Industry Participation Plans.
South Australian Premier Steven Marshall welcomed the announcement, encouraging organisations to opt-in.
“I’m very excited about what the Entrepreneur and Innovation Centre is going to bring to South Australia. The EIC is the place where innovative organisations should want to be and now is the time to take up this unique opportunity,” he said.
“The EIC will give those who secure a tenancy the opportunity to accelerate innovation and with this create jobs for the future. It will showcase South Australia as a global leader in incubating and promoting innovation, research, and collaboration.
“It will be a magnet for talent and creativity, delivering exciting futures for its tenants and South Australia.”
Executive chairman of QE, Shane Quinn, reflected on the opportunities available to prospective tenants, welcoming the Commonwealth Bank of Australia’s (CBA) commitment.
“We want to fill the building with the best and brightest organisations who can take advantage of an environment geared to world-class collaboration and innovation,” he said.
“Setting a new benchmark for office design — collaboration, sustainability and technology will be embedded into the core of the EIC, allowing tenants to attract and retain the best local and global talent across high growth industries of cyber security, hi-tech research, space and defence technology.”
A $20 million Innovation Hub will also form part of the EIC under the Adelaide City Deal, with the ground floor to be an activated area for events and collaboration, accessible for the public.
