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Australia approves development of leading innovation precinct co-invested by Singapore’s GIC

Australia approves development of leading innovation precinct co-invested by Singapore's GIC

The
University of Melbourne announced
that the Department of Environment, Land, Water and Planning (DELWP) has
approved the planning of Australia’s leading innovation precinct.

In
2012, the University of Melbourne purchased the former Royal Women’s Hospital
site and in 2017 announced
a partnership
with a consortium led by Lendlease to redevelop it.

The
partnership will oversee the redevelopment of the former Royal Women’s Hospital
site, with the Lendlease consortium designing, constructing and maintaining the
site for 42 years.   Early works commenced in November 2017 and
construction is expected to commence in mid-2018 for completion in 2020.

The
consortium delivering the innovation precinct in partnership with the
University of Melbourne comprises Lendlease
as developer, builder, co-investor and investment manager of the commercial
space; Spotless as the facilities
manager; and Urbanest as investor and
manager of the student accommodation.

Singapore’s
GIC is a major co-investor of the commercial space in this educational and
commercial project. According to a press
release
issued by GIC last November, Chief Investment Officer of GIC Real
Estate Mr Lee Kok Sun said the project is “an attractive opportunity to invest
in a unique educational and commercial hybrid project which is in line with the
global emerging trend of innovation hubs being situated around universities”.

“We
believe the new innovation precinct will generate resilient cash-flows over the
long term and look forward to strengthening our partnership with Lendlease and
the University of Melbourne on this project,” he added.

The
new precinct will host researchers, companies, government bodies and community
members from different backgrounds and disciplines who will work together to
develop innovative solutions to society’s biggest challenges.

The
74,000 sqm precinct will feature a series of connecting buildings arranged
around a central and publicly-accessible open space. In addition to co-working
and commercial office space, the precinct will feature a Fab Lab, student
accommodation and a Superfloor dedicated to collaboration and fostering the
exchange of ideas.

The
precinct will be ideally located adjacent to the University of Melbourne’s
Parkville campus, which hosts some of the world’s top researchers, and within
close proximity of 1 km to the Melbourne CBD which is accessible via tram and
the proposed Melbourne Metro. It will have the tools, platforms and services to
create an ecosystem where start-ups emerge, and cutting-edge products and
services are developed.

Credit: GIC

University
of Melbourne Vice-Principal Policy and Projects, Dr Julie Wells, said that the
precinct will be a place for the local community to live, work and exchange
ideas through a vast program of events such as hackathons, workshops,
exhibitions and social events.

It
will also include shops, cafes, public spaces, accommodation for graduate
students and visiting academics, a childcare centre and Science Gallery
Melbourne
, which will deliver cutting-edge exhibitions, events and
experiences.

University
of Melbourne Deputy Vice-Chancellor (Research) Professor Jim McCluskey said by
enhancing research and education, the precinct will support the vision of
Melbourne as a Knowledge City and play an important role within the Melbourne Innovation Districts.

“Innovation
emerges from vibrant and collaborative environments where people are encouraged
to share skills and ideas as they work and socialise together,” Professor
McCluskey said.

Lendlease
Urban Regeneration Managing Director Mark Menhinnitt said the development will
regenerate the former Royal Women’s Hospital site into an open, light and
modern precinct, delivering a bold new architectural statement.

“This purpose-built facility will set a new
benchmark in education and industry collaboration that meets the highest
standards of design and sustainability, while also honouring the site’s
heritage and history,” Mr Menhinnitt said.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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