Charter Hall and Western Sydney University have announced the development approval for stages 1 and 2 of their $350 million ‘Innovation Quarter’ (iQ) precinct at Westmead.
The world-class development between Charter Hall and the University will create a visionary hub for innovation in health, education, research and business, substantially elevating Westmead’s status as one of the world’s most advanced innovation districts.
Development approval has been received for two mixed-use towers at iQ, situated between the hospital and Westmead station. These towers will provide 28,000sqm of health, research, education and commercial space, facilitating significant opportunities for collaboration across the public and private sectors.
Additionally, 2,000sqm of retail space, lifestyle facilities and amenity will ensure tenants and the surrounding community benefit from the development, including food and beverage, a proposed supermarket, fitness centre, parking and childcare - creating a comprehensive lifestyle and wellbeing offering for tenants and the community.
Western Sydney University vice-chancellor professor Barney Glover says that, “Continued research, educational and commercial investment in Westmead is critical, not just for the success of the precinct, but in driving the COVID-19 mitigation and recovery phases ahead.”
“The Westmead collaboration with Charter Hall, is part of a wider program of infrastructure stimulus initiatives the University is pursing with the Group and other public-private partners at Bankstown, Campbelltown, Liverpool, Parramatta and Werrington.”
Charter Hall’s CEO, David Harrison says the development approval and commencement of construction works was an exciting step forward for the project.
“iQ will create a truly visionary precinct that brings together the most forward-thinking research, health education and commercial sectors in the Southern Hemisphere. The project will provide an environment for some of the brightest minds in the country to innovate, create opportunities for collaboration and solve global challenges in the heart of Westmead.”
Completion of the project is scheduled for Q4 2021.