COMMONWEALTH BANK INVESTS IN FUTURE BRISBANE OPERATIONS

The Commonwealth Bank of Australia signalled its long-term commitment to Queensland today, announcing the move of its three Brisbane offices into one central, modern and environmentally sustainable workplace in the heart of Brisbane's CBD by mid-2016.

Once complete, the state-of-the-art workplace, located across six floors of the '180 Brisbane' office tower at 180 Ann Street, will house more than 950 Group employees.

David Craig, Commonwealth Bank Chief Financial Officer, said, "This move represents a significant and long-term investment in the future of our Brisbane based operations.

"We are incorporating an activity based working design to bring our Brisbane employees together and create room for growth in a central, sustainable working environment.

"The new workplace has been designed to promote collaboration, flexibility and efficiency within our teams, which will deliver benefits for our customers," Mr Craig said.

In addition to the consolidation of its Brisbane workforce, the Group will also base its Queensland training centre in the building.

'180 Brisbane' has been designed to maximise energy and water efficiency, and create a healthier working environment. With the development targeting a 6 Green Star rating and a 5.5 Star NABERS energy rating, it will set a new standard of sustainability in Brisbane office space.

Activity based working, introduced to the Commonwealth Bank three years ago, promotes greater efficiency by providing employees with the freedom and technology to move around to different workstations, collaboration spaces and meeting rooms.

'180 Brisbane' is a Daisho development, with Commonwealth Bank leasing the 10,500 square metre space on an average 11 year term. Terms of the lease remain confidential. Knight Frank and Colliers International are the leasing agents for 180 Brisbane.

Work to fit out the space will commence in mid-2015, with the first employees set to move in early 2016. The Commonwealth Bank’s Brisbane flagship branch will remain at 240 Queen Street.

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