Sydney's $490m commercial life sciences precinct gets first tenants

ION, a dedicated, purpose-built commercial life sciences precinct located in Waterloo, has secured its inaugural partners.

Scientific technologies and services provider Thermo Fisher Scientific, flexible laboratory infrastructure provider SmartLabs, and flexible and hybrid workspace platform IWG (International Workplace Group) are the inaugural partners of Waterloo-based, 27,000 sqm precinct ION, which aims to position Sydney at the forefront of Australia’s next wave of biotech innovation.

External facade. Source: Kurraba Group.

External facade (front). Source: Kurraba Group.

Representing an investment of approximately $490 million, the lab-enabled space across a multi-building precinct of up to 10 levels in Waterloo is described by Australian innovation, life sciences and education real estate firm Kurraba Group as designed to address an historical lack in the Australian market of specialised, scalable lab infrastructure required to support the full lifecycle of life sciences innovation.

Internal incubator. Source: Kurraba Group.

Internal write-up space. Source: Kurraba Group.

With a vision to accelerating the development of a world-class life sciences ecosystem in Australia, ION aims to enable research, clinical translation and commercial growth within a single, integrated precinct. “This project marks the first collaboration between SmartLabs and IWG under our new strategy to expand life sciences research centres globally,” SmartLabs CEO Brian Taylor said.

Internal lobby. Source: Kurraba Group.

External terrace. Source: Kurraba Group.

“By working with Kurraba Group, we are helping to create environments where scientists and innovators can accelerate life sciences research, solve complex challenges and ultimately bring new therapies and diagnostics to market faster,” said Darren Verney, Director – Strategic Partnerships & Precincts, Thermo Fisher Scientific Australia and New Zealand. With Buildcorp appointed as builder, construction is anticipated to commence in the coming months and project delivery anticipated for Q4 2028.

Top image: Internal clean rooms. Source: Kurraba Group.