BankWest, Western Australia's largest financial services employer, has announced it will underpin council-approved multi-million dollar Raine Square redevelopment as its new headquarters on the expiry of its current lease.
The proposed building designed by architect Edwin Bollig is a modern streamlined complex that will complement and enhance the existing Raine Square heritage precinct. It will have 21 floors and approximately 42,500 sqm of floor space, with a minimum Australian Building Greenhouse Rating (ABGR) of "4 and a 1/2" stars.
Construction will commence immediately and BankWest will have full naming rights and signage.
BankWest Chairman Ian Mackenzie said the decision to support this significant Perth development demonstrated BankWest's commitment to Western Australia and its determination to maintain its position as a leading West Australian financial institution.
"We have been operating in Western Australia for more than 110 years. WA is our home state and it is our intention to remain a leading West Australian financial services provider and employer, and an integral part of the West Australian community while we continue to grow our business nationally."
Property consultant Digby Swale of Swale Hynes Consulting assisted the bank in selecting a property from a strong pool of contenders. Mr Mackenzie said Raine Square was selected because it was a good fit for all business requirements, and most importantly would allow BankWest's growing CBD workforce to be co-located in a single location.
BankWest staff are currently housed in a number of buildings throughout the CBD and Northbridge and Mr Mackenzie said bringing them all together would mean better communication across divisions and the retention of a strong, vibrant internal culture as staff numbers increased.
"Over the past two years we have been growing our business nationally and our head office workforce here in our home state of Western Australia has expanded significantly to support that growth," he said.
"Since 2003 WA staffing has increased by more than 35 per cent to 3300 people and we expect ongoing growth over the next few years. The proposed fit-out of the new head office will foster an environment of collaboration, flexibility and efficiency."
Property Developer Luke Saraceni of Saracen Properties, the developer responsible for developing the Raine Square precinct, said BankWest's commitment would not only provide much-needed office space in the Perth CBD, but would help revitalise the retail space around Raine Square.
Mr Saraceni, who is also the State president of the Property Council of Western Australia and an industry representative of the Western Australian Planning Commission said:
"The Raine Square Development together with the development at 140 William Street, the sinking of the railway line and the redevelopment of the train station, will create an exciting new precinct with a strong link to Northbridge.
"The Raine Square development will preserve the heritage buildings and the historical link with Mary Raine and her contribution to the University and medical research."
BankWest has a long and proud history in Western Australia and has assisted in helping to build WA into a strong and prosperous state. Mr Mackenzie said it was only fitting that BankWest should be underpinning the development of such a significant Perth landmark as a base from which to continue to grow its business.
