Bendigo Bank announces new head office complex
17/10/2003Bendigo Bank has today announced that its new head office complex will substantially extend the existing Fountain Court site.
The decision follows a national 12-month property review prompted by the significant growth of the company.
Managing Director Rob Hunt said several sites within Bendigo’s central business district were considered as the future home of Bendigo Bank’s head office complex.
However, the purchase of several buildings in the Bath Lane precinct will enable Australia’s only regionally headquartered bank to remain at its existing high profile site.
Construction and expansion of the new head office complex is expected to require an investment in excess of $40 million. The new complex will accommodate head office requirements as well as expanded retail space, attractive new public areas and car parking facilities.
“The development of the new complex is a significant investment by Bendigo Bank in our home city,” Mr Hunt said.
“It is a major commitment to Bendigo and one which confirms the city’s status as a major financial centre. It also confirms Bendigo Bank’s status as Australia’s only regionally headquartered bank, an important factor in the culture of our organisation, a company which is today a national financial institution.
“Bendigo Bank currently employs more than 600 employees in Bendigo alone and this figure will continue to grow, placing great pressure on our local head office facilities. We are growing at double-digit rates on a consistent basis and this will be reflected in continued growth in our employment base.
“Our Bendigo staff are spread across five buildings and the time had come not only to consolidate these facilities into the one complex, but to consider our staffing and accommodation requirements into the future,” Mr Hunt said.
Architects are still to be appointed for the project and although the complex will be of a significant size, the design of the building is yet to be determined.
The purchase of the additional buildings provides the bank with the opportunity to extend down Bath Lane.
Plans will be developed in coming months and consideration will be made to take into account the look and feel of Bendigo as a city and Bendigo Bank’s position within this city.
“One thing that is certain, the new complex will embody many ecologically sustainable building initiatives and principles,” Mr Hunt said.
“This will not only make it a local building of significance, but also one which demonstrates international standards in terms of office, retail and public environment.
“Bendigo Bank looks forward to working with the State Government and the City of Greater Bendigo and seeks their involvement and active participation in the development. This building will make a statement about our innovative and growing city and its future prospects.”
All going to plan, work is expected to begin on construction of the new complex in mid-2004, with an expected completion date of 2006.
Bendigo Bank has also confirmed that it will lease a new Melbourne-based office to be constructed within the Docklands Victoria Point project.
A purpose-built building will be constructed on Harbor Esplanade, next to Telstra Dome and in close proximity to City Link and national and local metropolitan transport systems.
It will house Bendigo Bank’s Melbourne-based staff – currently spread across five buildings – and provide facilities for Bendigo head office staff required to make business trips to Melbourne.
Work is expected to begin on the building in coming months, with the complex due to be completed by July 2005.
“These two new buildings will position Bendigo Bank for many years to come,” Mr Hunt said.
“They are essential investments, in both a logistical sense and to ensure we retain our unique culture and standing as Australia’s only regionally headquartered bank,” he said.