This article is from the Australian Property Journal archive
THE Kurraba Group, Australian life sciences and bio-medical property investment and development manager, is launching the country’s first commercial life sciences campus.
The $490 million development will be built in the centre of Sydney’s emerging health and innovation precinct, on a 26,000sqm site at 100 Botany Road, Waterloo opposite the new Waterloo Metro Station.
The campus will house hi-tech laboratories, knowledge workspaces and infrastructure and facilities for professionals in the life sciences sector, establishing a robust platform for local research and development.
“The team at Kurraba and our investment partners are delighted to be launching this exciting new development, which will be Australia’s first-ever commercial life sciences precinct,” said Nick Smith, CEO at Kurraba.
“We are proud this will be a true ‘Centre of Excellence’, providing tenants working in life sciences with unparallelled access to world-class clinical laboratories and facilities, sophisticated technology and infrastructure, and the opportunity to connect and collaborate with other industry professionals, all within the one ecosystem.”
The Gensler-designed project will create a pipeline of 1,200 new jobs during the construction phase and ongoing commercial operations with circa 1,700 jobs.
“We believe it will become a magnet for students, researchers, scientists and engineers from a range of industries, such as pharma, bio-tech and medical devices, supporting the commercialisation of their R&D, and ultimately, leading to better health outcomes for Australian communities,” added Smith.
“Unlike existing hybrid R&D labs, usually co-located in universities, hospitals and independent research institutions, this will be a stand-alone, purpose-built facility, focused on meeting the growing demands for laboratories, facilities and office space from Australia’s rapidly-growing life sciences sector.”
Smith noted there has already been strong interest from the sector, with the campus set to become NSW’s first Proton Cancer Therapy Centre, backed by IBA Worldwide.
“As a nation, Australia has a successful track record in undertaking quality R&D, but when it comes to commercialising life sciences innovations, Australia is world-leading in IP generation, yet we continue to lag-behind other OECD countries,” said Smith.
“We aim to change that, by providing our best and brightest local innovators with the space and infrastructure they need, to help commercialise their ideas for the Australian market.”
Kurraba is expected to lodge a State Significant Development Application (SSDA) for the Project this July, with construction slated to commence in early 2025.
