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Construction of the flagship project in Adelaide’s transformational Lot Fourteen precinct, the $100 million Innovation Centre, is set to kick off next year after the South Australian Government decided to finance and directly deliver the 16-level building following a rush of demand from national and global tenants.
The Innovation Centre has secured pre-commitments for 77 per cent of the project, including BAE Systems Australia, the $60 million Australian Defence Technologies Academy, the $20 million Innovation Hub and $20 million Space Assembly Integration and Testing facility.
Positioned in the heart of the district, the facility is described as a single, secure location for collaboration between defence, space, cyber security and hi-tech organisations.
The SA Government says it plans to deliver the key asset to ensure government ownership of the building and to safeguard the vision of Lot Fourteen as a flagship for innovation growth and skilled jobs in South Australia.
Lot Fourteen is earmarked for a 7ha site in the heart of the Adelaide CBD which formerly housed Royal Adelaide Hospital.
The Innovation Centre is being developed as part of the state government’s plan to transform South Australia’s “economic complexity and technological capabilities”.
Construction of the Innovation Centre is scheduled to begin in 2026, with tenants already committed to the project expected to move into the next-generation building by late 2028.
The project is being delivered by Renewal SA, which is overseeing construction procurement and project management. The state’s development arm is planning to issue a series of contractor procurements to the market to ensure construction begins as soon as possible.
“This is a major milestone for the innovation district and signals the state government’s commitment to Lot Fourteen,” says state project lead Di Dixon.
“The Innovation Centre will combine the very best of open collaboration zones, cutting-edge innovation and access to a capital city’s premium amenities, embodying the enormous potential that South Australia has to offer and is the first new development to be built at Lot Fourteen.”
Lot Fourteen is supported by the state and federal governments with a combined investment of $757 million.
A strategic plan for the project released in 2022 estimated that by 2028 capital and operational expenditure in Lot Fourteen will generate $3.5 billion in economic activity for South Australia.
When fully completed, the Lot Fourteen precinct is expected to be home to more than 6,000 workers and researchers.
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