A deep tech company has jumped at the chance to be involved in one of Sydney’s largest leasing transactions within the past six months.

Molecular diagnostic solutions company SpeeDx  leased the entire ninth floor of the Centuria-owned Eight Central Avenue complex. 

Offering 3000 sqm of space, the site is located within the innovation precinct at South Eveleigh, just 2.5 kilometres south of the Sydney CBD.

The deal will see SpeeDX agree to a lease term of 3.5 years as the company looks to expand its operation, which “specializes in molecular diagnostic solutions that go beyond simple detection to offer comprehensive information for improved patient management”.

“SpeeDx is a dynamic, rapidly growing company with a strong portfolio of technology at the cutting edge of molecular diagnostics,” the company’s website explains. 

“Our growing team in offices and laboratories in Sydney, London, and Austin, work together in an innovative, challenging, and collaborative environment, towards our critical mission of developing clinically relevant tools to positively impact healthcare networks around the world.”

Knight Frank’s Nick Lau, who negotiated the deal, said SpeeDx was already located in the precinct at 5 Cornwallis Street and stressed its desire to stay, despite needing to upsize.

“SpeeDx has been within the precinct for over 10 years, and while they had outgrown their previous premises in terms of office space, they will retain that space as a lab,” he said.

“Eight Central was the right play for them, containing a good quality fitout that they could inherit. This was the key for the tenant as this enabled them to commit within their tight window.

The building being leased

The company will lease a whole floor in a Sydney fringe office building

Mr Kau said the deal was a huge upgrade by way of property grade and provided new amenity for the staff of the deep tech company.

“In the post-COVID world, tenants are even more focused on leasing space that is attractive to employees, as an incentive to work in the office rather than from home,” he said.

“The well-established South Eveleigh innovation precinct has amenity including food outlets and retail, as well as public transport with a Metro and train station 600 metres away, a bus stop 50 metres away and the airport five kilometres away, and it is also connected to the city by bike paths.

“The precinct also has a Village Square for meetings and gatherings, and green open spaces in a remarkable park setting with amenities including basketball, tennis and futsal courts, barbeques and exercise equipment.”