Major CSL Move Bolsters World-Leading Parkville Precinct

07 August 2019

Global biotech giant CSL will move its headquarters to a purpose-built facility in the heart of the nation’s premier biomedical precinct at Parkville, securing the company’s future in Victoria.

Minister for Priority Precincts Gavin Jennings today confirmed CSL would establish a major presence in the Parkville biomedical hub, adding to the world-leading concentration of research facilities, hospitals and universities on the northern edge of Melbourne’s CBD.

These organisations will have increased opportunity to collaborate and drive innovation and commercial growth, with the biomedical sector already contributing $16.5 billion to the state’s economy each year.

CSL will occupy a 16-storey tower abutting the Haymarket roundabout at the top of Elizabeth Street, opposite the Victorian Comprehensive Cancer Centre. Nine floors will be devoted to laboratories and clinical facilities.

The headquarters is due to open in 2024 with 800 workers relocating from existing campuses on Poplar Road, Parkville – near Royal Park – and Docklands. Hundreds of jobs will be created during construction.

Metro Tunnel’s Parkville station will add to transport options from 2025 and the CSL vote of confidence is expected to lead to further investment in Melbourne’s burgeoning biomedical precinct.

The Andrews Labor Government also today announced it would form a new partnership with the University of Melbourne, providing $200,000 to examine leading precinct innovation models, including those found in Boston, Tel Aviv and the MaRS Discovery District of Toronto.

Victoria’s Priority Precincts focus is on delivering jobs, development and improved liveability to key urban areas with the Victorian Budget 2019-20 containing a $25 million allocation for works and programs. Parkville is one of five declared precincts, along with Arden, Fisherman’s Bend, Sunshine and the Richmond to Docklands corridor.

From its inception in 1916 as the Commonwealth Serum Laboratory, CSL has been a consistent innovator and since privatisation in 1994 has entrenched its position as an international leader in biotechnology.

CSL operates in more than 35 countries and has more than 22,000 employees, including 2,500 in Victoria. The company’s existing Parkville campus will be retained as a production site for influenza vaccines and antivenoms while CSL’s world-class Broadmeadows manufacturing facility will continue to produce plasma products.

Quotes attributable to Minister for Priority Precincts Gavin Jennings

“This announcement strengthens Melbourne’s global reputation as the nation’s premier location for biomedical discoveries, commercial opportunities and innovation that creates jobs and saves lives.”

“This move secures CSL’s global headquarters for Melbourne into the foreseeable future and positions Australia’s own global biomedical leader with some of the world’s finest research and discovery talent.”

Quote attributable to CSL chief executive and managing director Paul Perreault

“This move positions CSL at the heart of Australia’s biomedical centre of excellence – Parkville is considered a world-class biotech precinct and a significant research presence in global terms.”

Reviewed 19 August 2020

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