REA Group says the space will be used as a training space for the company’s graduates, design engineers and product teams, and will explore new technologies including “virtual reality, augmented reality, drones and robotics”.

The company’s chief information officer, Nigel Dalton, has been appointed to the newly created role of chief inventor and will lead the REALABS teams.

“REALABS provides a dedicated home for us to be exploring new technology and what it could mean for us, the industry and beyond,” Mr Dalton said.

“It also allows us to experiment and lead disruption, staying ahead of the industry globally.”

Meanwhile, REA Group chief executive Tracey Fellows said REALABS would allow the company to invest in innovation and “bring together some amazing ideas-led inventions”.

“Our success has been built on creativity and invention, and our desire to change the status quo means we will always look for another way, bigger and better, to improve the experience for our consumers and create value for our customers,” she said.

The space will open in November.

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