When Charter Hall’s Managing Director and Group CEO David Harrison and Western Sydney University’s Vice-President (Finance & Resources) Peter Pickering hosted a ground-breaking event for the $350 million ‘Innovation Quarter’(iQ) in Westmead at the start of this month, there was plenty to celebrate.

Not only was construction commencing on the project, but the ceremony coincided the announcement that Australia’s national science research agency, CSIRO had signed on as a key tenant at iQ, joining three of Western Sydney University’s world-leading research institutes – the MARCS Institute for Brain, Behaviour and Development, the NICM Health Research Institute, and Translational Health Research Institute (THRI).

Comprising 43,000 sqm of mixed-use research, health, commercial and retail space across three towers, the development at 158-164 Hawkesbury Road, Westmead is expected to attract businesses and organisations of similar stature as it takes shape across the next 12 months.

At a glance:  

• Construction has commenced on the $350 million Westmead Innovation Quarter - a joint venture between Charter Hall and Western Sydney University.
• JLL and Resonate Partners have been appointed to lease space within the precinct.
• The project comprises 43,000 sqm of mixed-use research, health, commercial and retail space across three towers.

Source: Charter Hall

It's an exciting time for JLL together who, together with Resonate Partners, has been appointed to lease space within the precinct.

JLL’s Western Sydney’s Senior Leasing Director, Stephen Panagiotopoulos said Westmead was the focus of "unprecedented investment".

"A combination of new property development and infrastructure ensures strong growth and a supported community," he said.

"iQ is connected to everything that makes Westmead the heart of Australia’s health, research, business and education community.

"It is great to see that the investment into Western Sydney and more specific Westmead is relatively immune to COVID-19 with investment continuing from the Government, the private sector and major groups noticing the advantage of investing and being part of this exciting, world class precinct."

According to the NSW Government’s Westmead Redevelopment project, more than $3 billion has been committed by the Government, universities and the private sector to upgrade and expand the precinct’s health services, education and medical research facilities throughout the coming years.

The Westmead Health Precinct joins Western Sydney Areotropolis, Westmead Health and Innovation Precinct, Sydney Innovation Precinct, Parkes Special Activation Precincts and Wagga Wagga Special Activation Precinct as one of the state government's Lighthouse Precincts.

Source: Charter Hall 

Part of the Global NSW Government Plan, Lighthouse Prencincts aim to eliminate growth barriers, improve planning and encourage investment.

Mr Panagiotopoulos said the precincts had the potential for "global pivotal impacts", as well as play a key role in delivering a strong economic influence across NSW.

“Regional NSW is the largest, most diverse regional economy in Australia, producing one-third of the total NSW Gross State Product, with thriving agriculture and mining industries as well as strong manufacturing, energy, tourism and service sectors," he said.

"These factors in turn will likely draw world-leading businesses and investors towards Lighthouse Precincts."

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