COMMONWEALTH BANK TO MOVE 10,000 PEOPLE TO STATE-OF-THE-ART WORKPLACE AT AUSTRALIAN TECHNOLOGY PARK BY 2020

The Commonwealth Bank today announced it will become the anchor tenant at Australian Technology Park, following a successful bid by a Mirvac Group-led consortium to acquire and redevelop the site. Planned for completion in 2020, the Commonwealth Bank will lease 93,000 square metres of office space across two state-of-the-art buildings on a 15 year term.

David Craig, Chief Financial Officer, said, “Securing this innovative office campus reflects our continued commitment to investing in leading workplaces for our people and ensuring we have world-class solutions to support future workplace needs.

“This is a major milestone for the Commonwealth Bank, not only will our new campus feature the very latest in innovative workplace design and technology, it will also house 10,000 of our people – the largest number of employees we’ve ever been able to accommodate in a single site.

“Our ongoing goal is to have highly motivated people who put the customer at the centre of everything we do, as we make the organisation more productive and continue to drive innovation.

“Moving to the transformed Australian Technology Park will put 10,000 of our people in the heart of a growing technology hub, providing us with a significant opportunity to partner and collaborate with universities, start-ups and other innovative companies.

“In addition, the proximity of Australian Technology Park to our existing Sydney CBD offices will allow for better integration with these locations and enhance collaboration by bringing our people closer together,” said Mr Craig.

Commonwealth Bank will also partner with Mirvac and Centuria to establish a Tech Incubation Fund to further enable and encourage the use of the Australian Technology Park precinct as a technology and innovation hub.

As a result of leasing this new office space at Australian Technology Park (ATP), the Commonwealth Bank will not renew leases at existing offices in Parramatta, Sydney Olympic Park or Lidcombe. The Commonwealth Bank will exit these locations as leases near expiry and consolidate our Sydney workforce at our new CBD fringe campus (Australian Technology Park) and Sydney CBD precinct (Darling Park, Commonwealth Bank Place and Darling Square) by 2020.

ATP will be designed to achieve 5 Star NABERS Energy and 6 Star Green Star (V3) As Built ratings, to maximise energy and water efficiency, and to create a healthier working environment. In addition to the campus style and activity based working space, the redeveloped ATP precinct will feature world-class amenities including sporting facilities, open spaces, specialty retail, child care and a gymnasium plus quality cafés, bars and restaurants that will create a bustling village hub for our people and the local community.