Heritage Bank People’s Choice plans to build seven-storey office in Toowoomba CBD, will sell current HQ

Heritage Bank and People’s Choice has identified where it will build its new head office in Toowoomba, and also why it couldn’t simply redevelop its current home.

The new Toowoomba head office of Heritage Bank and People’s Choice will be a purpose-built, campus-style office designed to cater for modern workplaces and drop-in spaces.

The CEO of Australia’s largest mutual bank Peter Lock revealed further details about its plan to build a six-to-seven storey building on the corner of Ruthven and Union Streets in the Toowoomba CBD.

The 2800 sqm site, which currently features the old Shrine Church that houses CatholicCare, is just a few hundred metres from Heritage’s current home that was built 40 years ago.

Mr Lock said HBPC, which officially merged in March, decided against redeveloping the old property due to costs, the time frames required and demands of modern workplaces.

Heritage Bank and People's Choice CEO Peter Lock stands in front of the joint-merger mutual bank's new Toowoomba office on the corner of Ruthven and Union Streets.

“400 Ruthven Street is a great site but the cost of redeveloping that site is very expensive — it didn’t suit our timeline to move out, redevelop and move back in,” he said.

“We were looking for a site in the centre of the city and there are not many, so we searched for a couple of years and the negotiations went on for some time.

“It was better to build fresh, the designs now are different than 40 years ago.

“We’re looking for more open spaces, more shared work zones and drop-in, dropout work zones.”

An artist's concept design for Heritage Bank and People's Choice's new Toowoomba headquarters on Ruthven Street.

Mr Lock said he hoped to have plans approved by the Toowoomba Regional Council within 18 months, with the view of completing the head office by 2027.

“We’re not pushing the boundaries, this is a great property, it’s three-street frontage and we’re working within the planning codes,” he said.

“We would say this is going to be suited for about 400 people.”

The previous building is currently being offered for sale, with Mr Lock believing it could become a hotel given its large footprint.

The Heritage Bank building in the Toowoomba CBD as seen from Mylne St residential tower block. Picture: Kevin Farmer

“We have a plan to sell that site, so it’s on the market and has been quietly, but we’re open to offers for that property,” he said.

“I’m sure the redevelopment will be exciting for the city — I think it would be a great hotel, it lends itself to that.

“It’s also a big envelope for redevelopment and there are a lot of people interested.”

New ‘purpose-built’ home for CatholicCare

CatholicCare executive director Kate Venables said the organisation, which supports a range of family and migrant and social services across southwest Queensland, would be moving to its new home on Mort Street next year.

“The Findex building is across the way from St James’ Church on Mort Street,” she said.

“We are near Momentum Mental Health, we’re near Multicultural Australia, Headspace is behind us, Lifeline is just up the road, so we’re close to a lot of other organisations.

“We’ve got 10 months to get out, so early next year it will be — in a perfect world, we’d go in January because it will be quieter, so that would be the best time.”

Ms Venables said her staff were excited to be working out of an office built to suit its needs.

“We’ve got 50 people based on site here, and we’re excited of the thought of having a purpose-built space — honestly, we’ve had to finagle our way into spaces here,” she said.

“We’re working with Aspect Architecture, which will do the design and we want it to be a welcoming and inclusive workplace.”