One of Renewal SA’s final remaining assets at the award-winning Tonsley Innovation District has been sold, following an open market, competitive Expression of Interest (EOI) campaign earlier this year.

Aspire Property Group has been named as the successful purchaser of the Tonsley Administration Building, a three-storey 1960s office building on a prime 2.57-hectare allotment at the entrance to Tonsley Innovation District.

Located at 1 Tonsley Boulevard, the site falls within the City of Marion’s Strategic Innovation Zone.

Aspire Property Group was selected by Renewal SA after a comprehensive evaluation of several prospective buyers, assessed against specific criteria outlined in the EOI.

Aspire Property Group intends to retain the building’s current function for the time being, which includes the management of multiple tenants, such as Innovyz, Form Cut, Kuzer Technical, CoHab Tonsley, Sportal and SA Health among others.

Aspire Property Group has yet to announce its long-term plans for the site but is excited to secure the high-profile site within the Tonsley Innovation District.

Established in 2012 on the former Mitsubishi manufacturing site, Tonsley Innovation District is a state government-led initiative and one of three innovation precincts developed by Renewal SA, alongside Technology Park at Mawson Lakes and Lot Fourteen on North Terrace, Adelaide.

Now home to more than 150 businesses, 2,000 workers, and 8,500 students annually, Tonsley Innovation District has set a global benchmark for the adaptive reuse of industrial land.

Key research institutions, businesses and training providers at Tonsley include Flinders University, SAGE Group, Siemens Energy, ZEISS, Tesla, Micro-X, AZZO and TAFE SA.