Adelaide's EIC building snags CBA as a tenant

Quintessential Equity (QE) has announced its Entrepreneur and Innovation Centre (EIC) in Adelaide open for leasing, with the Commonwealth Bank committed to a tenancy for its Technology Hub.

A landmark facility at the heart of Lot Fourteen’s innovation district, the $400m commercial office building will be developed, owned and managed by QE and has already attracted inquiries from key tenants in the defence, space and hi-tech sectors, the company says.

The 16-storey, 41,000 m² EIC has been designed to provide innovative government and private-sector organisations with the perfect home to enhance their research, operational and workforce capability through leading-edge technology, building and design.

QE says it will also be a powerful generator of jobs — with construction pegged to create around 430 jobs at project peak. Employment opportunities for Indigenous South Australians will be prioritised as part of this, through a partnership with Indigenous Training and Industry Participation Plans. Once completed, the EIC will be the workplace for 3000–4000 workers across high-growth industries.

South Australian Premier Steven Marshall said the development will deliver positive results for the state.

“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.”

Commonwealth Bank’s CIO for Technology, Brendan Hopper, said the bank will establish a Technology Hub in South Australia to take advantage of the state’s focus and investment in technology, innovation and entrepreneurship.

“Our hope for our Technology Hubs is that they are places where people go to collaborate, innovate, share ideas and learn from others — which is why the Entrepreneur and Innovation Centre is the ideal home for us,” Hopper said.

“We plan to hire up to 150 technology specialists within the next five years who will utilise the Technology Hub at the EIC, including software engineers, data scientists and cybersecurity specialists.”

The EIC will also house a $20 million Innovation Hub, as part of the Adelaide City Deal, with the ground floor to be an activated area for events and collaboration, accessible to the public and offering indoor and alfresco dining opportunities.

Opening in mid-2024, the EIC will be the flagship building of Lot Fourteen in the centre of Adelaide. The innovation district has built a reputation of excellence globally for its focus and cultivation of innovation, entrepreneurship, research, education, culture and tourism, with occupants including Amazon Web Services, Google Cloud Services, Microsoft Azure, the Australian Space Agency and the Australian Cyber Collaboration Centre.

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