Westpac takes Paris end of Collins, leaves Docklands to other banks

Westpac has selected the Paris end of Collins Street for its new Melbourne headquarters, rather than join rivals NAB and ANZ, which have headquarters in the Docklands precinct.

The bank is set to occupy between 14,000 and 18,000 square metres of office space in a new 20,000-square-metre, 10-level A-grade office tower to be constructed by Grocon and APN Property Group.

About 1,000 square metres of the building will be set aside for retail use.

The proposed site for the tower is currently occupied by an Art Deco multi-level car park behind the historic Scots Church on the corner of Russell and Collins streets.

In 2006 trustees of the church agreed a 99-year lease agreement with Grocon/APN to develop the site.

Under the agreement APN will pay s Pagewood an initial $5.5 million, then an annual rent of $1.5 million.

Elements of the car park will be retained in the construction of the new building.

The heritage-listed church dates back to 1841 and is Melbourne's oldest Presbyterian Church.

In 2004, NAB became one of the first major corporate tenants in Docklands when it moved 3,500 staff into its new headquarters at the corner of Harbour Esplanade and Bourke Street.

In early 2010, ANZ moved into new 87,000-square-metre premises  at 833 Collins Street, the largest office building in Australia.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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