Lab Cost Calculator – Rent vs. Buy
By Samuel Wines
13 October 2026
Build your own PC2 lab or join CoLabs?
Every bio and deep tech founder hits the same fork in the road. You need PC2 lab space to get your science off the whiteboard, and you can either spend a year finding a site, fitting it out and waiting on certification, or you can walk into a lab that is already built, certified and running. This calculator puts real numbers on both paths for Melbourne and Sydney: what each costs over your planning horizon, how much cash goes out before your first experiment, and how many months sooner you reach your next milestone.
Every assumption is editable. Plug in your team, your runway and your own numbers, and see where you land.
What does it cost to build a PC2 lab?
More than most founders budget for. Lab construction alone typically runs $4,000 to $7,000 per square metre, before the lease, the equipment, or the people needed to keep a containment facility compliant. Then come the costs that never appear in a fit-out quote: an Institutional Biosafety Committee arrangement, annual biosafety cabinet certification, autoclave validation, biohazard waste removal, extra insurance, 24/7 ventilation and freezer power, and a lab manager to hold it all together.
The calculator adds these up month by month, including rent escalation, equipment resale at the end and the make-good bill when you hand the keys back. Using its default assumptions, a team of six desk staff and four scientists would spend roughly $2.4 million building and running their own Melbourne lab over three years, against roughly $610,000 at CoLabs. Your numbers will differ, which is why every input is open.
How long does PC2 certification take?
Longer than your runway would like. The Office of the Gene Technology Regulator (OGTR) decides on facility certification within 90 working days of a complete application, and that clock only starts once the lab is built. Add finding a site, design and approvals, and construction, and a new PC2 lab commonly takes around a year from decision to first experiment.
At CoLabs, members are typically onboarded and at the bench within a month. The calculator turns that gap into the thing investors care about: how much runway you have left when your data is ready.
PC2 lab space in Melbourne and Sydney
CoLabs runs certified PC2 labs, offices and coworking at three sites:
- Notting Hill, Melbourne – in the south-east innovation precinct near Monash University.
- Brunswick, Melbourne – in the inner north, close to the Parkville biomedical precinct.
- Eveleigh, Sydney – in Tech Central, near Cicada Innovations.
Lab benches start from $2,000 a month and desks from $300 a month, depending on site. Membership includes shared equipment such as biosafety cabinets, fume hoods, −80 °C freezers, autoclaves, CO₂ incubators, PCR and qPCR, microscopes and centrifuges, along with waste management, utilities, procurement support and 24/7 access.
How to use the calculator
- Choose your city and the milestone you’re working towards, such as validation data for your next raise.
- Enter your team size, planning horizon and current cash runway.
- Open any section to adjust the build-your-own assumptions: rent, fit-out, equipment, compliance, staffing and timing.
- Read the results: the milestone timeline, total cost, cash needed up front and monthly running cost for each path.
The figures are indicative planning estimates in AUD, excluding GST, not a quote.
When building your own lab makes sense
Well, often enough, it does. A large, stable team with specialised infrastructure, a long lease horizon and capital already raised can come out ahead by building, and the calculator will tell you so when your numbers point that way. For most early-stage companies, though, the question isn’t only cost. It’s whether you want to spend your first year managing a construction project or running experiments.
Ready to see what’s available? Enquire about space availability here.
FAQs
What is a PC2 lab? A PC2 (physical containment level 2) lab is a facility certified by the OGTR for work with low-to-moderate-risk genetically modified organisms and biological materials. It needs specific design features, equipment such as biosafety cabinets and autoclaves, and ongoing compliance.
How much does PC2 lab space cost in Melbourne? At CoLabs, PC2 lab benches start from $2,300 a month in Brunswick and $2,500 a month in Notting Hill, excluding GST. Shared equipment, waste management and utilities are included.
How much does lab space cost in Sydney? At CoLabs Eveleigh, lab benches start from $2,000 a month under launch pricing to December 2026, then $2,500 in 2027 and $3,000 in 2028. Hot desks start from $500 a month.
How much does it cost to build a lab? Lab construction typically costs $4,000 to $7,000 per square metre for fit-out alone. Sometimes up to $10,000 for equipment/mech-heavy fitouts. Equipment, lease, compliance, staffing and make-good costs come on top, which the calculator above adds up for your team.
How long does OGTR certification take? The OGTR decides on PC2 facility certification within 90 working days of receiving a complete application. Including finding a site, design and construction, a new lab commonly takes around 12 months to become operational.
How quickly can I start at CoLabs? Most members are onboarded and working at the bench within about a month, depending on space availability and your project’s requirements.
Is the calculator a quote? No. The figures are indicative planning estimates in AUD, excluding GST. Contact the CoLabs team for current pricing and availability, or for advice on whether to build or rent.
