National Australia Bank hires construction firm Built for $10m new Toowoomba CBD bank branch
One of Australia’s biggest banks has started work on its new branch in the heart of the Toowoomba CBD, and also revealed in the local investment value.
Development
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Construction has started on the Toowoomba CBD’s newest bank branch, which will invest more than $10m into the local economy.
The National Australia Bank will hold a formal sod turning this week to mark the start of work on its new location on the corner of Ruthven and Little Streets in Toowoomba City.
While several local tradies and contractors will be used, NAB opted to use national construction firm Built for the project instead of a number of Toowoomba companies.
NAB Queensland retail executive Chris Francis said the 1200 sqm building would invest millions into Toowoomba jobs.
“We’re proud to back Toowoomba and its business community – as part of our new development with Built we also have 16 local businesses contracted as part of the project,” he said.
“This $10m investment is great for Toowoomba and will be great for Toowoomba business well into the future.
“With billions of dollars of investment coming down the pipeline on the Inland Rail Link and a new Toowoomba Hospital, Toowoomba is certainly a growth corridor for Queensland, and we want to sure we have a strong physical presence in the community for the future.”
Mr Francis said the building, which would have a five-star sustainability rating, would take about a year to complete.
The project was approved by the Toowoomba Regional Council earlier this year, after a six month assessment process.
NAB bought the two properties it would sit on for a combined $2.5m, just a few hundred metres up from their current location.
Legendary restaurant Phat Burgers was one of several businesses to make way for the upcoming branch.
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