Commonwealth Bank Geelong to relocate to Westfield amid Market Square exodus

Commonwealth Bank has confirmed it will abandon central Geelong’s Market Square for Westfield in 2026, marking another blow for the embattled shopping centre.

The Commonwealth Bank is moving into Westfield into the old site of the Bank of Melbourne. Picture: Alison Wynd

Central Geelong’s Commonwealth Bank will move from its Malop St location to Westfield next year.

The bank’s business centre, previously at Malop St, moved to the City of Greater Geelong’s former Brougham St offices on December 8.

The impending move to Westfield, expected to happen in mid-2026, marks another departure from the embattled Market Square Shopping Centre.

A Commonwealth Bank spokeswoman said the bank had invested more than $5.3m in its Geelong presence with the new branch and business centre.

“We look forward to welcoming customers to our new branch at Westfield Geelong in mid-2026 and our new business centre is now open,” the spokeswoman said.

“Our branch team will be available to support customers Monday to Friday.

“Customers will also have access to the latest in banking technology, including instant cash and coin deposit capability, as well as improvements to accessibility requirements for customers and staff.”

The personal banking centre will operate at Westfield’s former Bank of Melbourne site, which closed about 12 months ago.

The spokeswoman said the business centre had “state-of-the-art facilities to support the needs of our growing business community in Geelong with specialists and relationship executives supporting the full breadth of business needs”.

“We’re proud to have served the Geelong community for 112 years and will continue to do so at our new locations,” the spokeswoman said.

Market Square has continued to lose tenants, with The Athlete’s Foot soon to depart the shopping centre.

A new store, in Westfield, opened in October with the Market Square store expected to close after Christmas.

Other stores that have opted for Westfield over Market Square in recent years include Adairs, Mind Games and Cotton On.

The exits are set to continue with Typo, owned by the Cotton On group, certain to vacate once its lease expires in December.

City of Greater Geelong Mayor Stretch Kontelj has been determined to rejuvenate the site, meeting with representatives from Market Square’s Singaporean owners Davinski Nominees and property manager Knight Frank earlier this, but little action has occurred.

Davinski purchased the centre from Geelong council for $32m in 1996.

The owner of Market Square refused to comment.

Originally published as Commonwealth Bank Geelong to relocate to Westfield amid Market Square exodus