Toowoomba’s Heritage Bank appoints Australian Unity to acquire land for new headquarters

The massive mutual company charged with finding Heritage Bank a new home in Toowoomba has received submissions for a suitable parcel of land within the CBD to host the headquarters.

Heritage Bank's head office building in Toowoomba.

One of Australia’s largest private companies has been charged with finding a suitable site in Toowoomba for the new headquarters of Heritage Bank.

Mutual firm Australian Unity, which is involved in health insurance, aged care and property investment with assets worth $27bn, has been appointed by the Toowoomba-based bank to find the location, develop plans and lead the construction process.

It comes after Heritage announced in October it intended to build a new “campus-style” building in Toowoomba, having outgrown its previous premises on Ruthven Street in the CBD.

According to advertisements placed by AU in media outlets, including The Chronicle, the site must be based within the CBD, able to be developed to eight storeys and close to areas like Walton Stores, Grand Central Shopping Centre and local cafes.

Australian Unity has now received the submissions, with a decision and purchase to be made within the current quarter.

AU executive general manager Mark Pratt said the company was excited by the opportunity to help find Heritage a new home.

“Australian Unity is delighted to be partnering with Heritage Bank and the Toowoomba community to deliver this landmark project, and to work with Heritage Bank to create an investment opportunity for its members,” he said.

“This project builds on Australian Unity’s growing presence in the region demonstrated by our recent investments in a new ‘A grade’ office building in Beenleigh, specialist disability accommodation and childcare property in Toowoomba and across south east Queensland, in addition to the $1.1 billion Herston Quarter precinct in Brisbane.”

Heritage’s plans for the new head office involve building a campus-style complex in the heart of Toowoomba that would provide a minimum of 5000 sqm floor space for the bank.

The new building will incorporate green spaces and collaboration areas, features such as a childcare centre, gym, and cafe, as well as other facilities that will be open to the community.