Credit Union Australia and the Heritage Bank have secured new offices in the Brisbane CBD

Hundred of employees will be relocating in the Brisbane CBD with two Queensland-based financial institutions set to move into new offices later this year.

A leading Queensland customer-owned financial institution will relocate hundreds of staff into a new office in Brisbane.

Industry sources say Credit Union Australia, which had a 6000sq m requirement in the market and last month announced its rebranding as the Great Southern Bank, has secured space in the Shayher Group’s 300 George Street office tower, after a deal struck by CBRE’s Mark Curtain.

They will be moving about staff from 145 Ann Street and the new office and rebranding coincides with CUA’s 75th anniversary.

300 George Street in the Brisbane CBD.

Chief executive Paul Lewis said research led to the rebranding.

“Reflecting our strong and proud Australian history we will begin trading as Great Southern Bank later this year,” he said.

Mr Lewis said CUA would remain proudly owned by its customers, and the move reinforced the strength and confidence of CUA as Australia’s largest customer owned banking organisation.

“At a time when high profile new entrants to the banking sector are struggling, we are celebrating 75 years of customer owned banking,” he said.

HERITAGE CONSOLIDATES

Meanwhile, Heritage Bank, will consolidate its office presence in the Brisbane CBD into 1157sq m on Level 3 at 175 Eagle Street.

Heritage Bank, which changed its name in 2011 from Heritage Building Society, will continue to have its head office in Toowoomba.

It’s new riverfront Brisbane base will be fitted out to cater for the post-COVID working environment. They will also have naming rights on the Charter Hall owned office tower.

Heritage is currently at 80 Petrie Terrace in Milton, and on Level 14 at 307 Queen Street in the CBD,

175 Eagle Street in the Brisbane CBD.

Chief executive Peter Lock said the new office location offered many advantages for Heritage,

particularly moving into the post-COVID environment with the Bank embracing hot desking.

“This is a fantastic riverfront location, right next to the historic Customs House. It

gives us extra space, as well as cost savings, and the opportunity to rethink our fit-out to meet emerging post-COVID trends,” he said.

“Rather than permanent desks allocated to individuals, the space will have bookable

hot desks.

“We’ve found working from home such a success during COVID that most

of our office staff are now on a hybrid working model, some days at home and some

in the office. That’s likely to be an ongoing feature of our working environment.

“Hot-desking is a better way to cater for this new working model and to provide

spaces for our people to work from when they visit Brisbane.”

NUMBER CRUNCHING

In other news accountants KMPG as still crunching the numbers on a 8000sq m requirement.

We understand Dexus’ 123 Albert Street office tower and Suncorp's new head office at 80 Ann Street are in the mix and well as the option on staying put at Riparian Plaza.

We hear that lawyers McCullough Robertson are getting towards the sharp end of making a decision on their 4000sq m requirement.

They are believed to be looking at Riparian Plaza while sources say they are more likely to stay at their long term office in Central Plaza 2 at 66 Eagle Street.

An artist's impression of 360 Queen St, Brisbane CBD.

We also understand energy supplier APA Group is mulling over a move to 300 George Street and 80 Ann Street.

However, there is no new information about Services Australia’s 38,000sq m requirement while work continues on Virgin Australia has a “soft requirement” in Brisbane for between 7000sq m and 8000sq m.

While Virgin could stay put at the Southpoint office tower, we hear IPST’s long mooted tower at the old Regent theatre site on the Queen Street Mall, Invest/Chater Hall’s 360 Queen Street tower, Cbus Property/Nielson Properties’ 205 North Quay development and Mirvac's proposed redevelopment of the old dental school at 200 Turbot Street.