NATIONAL Australia Bank is securing its future staffing plans with the consolidation of six offices in Melbourne's CBD into its new six-star property at 700 Bourke Street. By mid-year it will have the bulk of its staff in three locations on Bourke Street.
The new building, at 14 storeys and equal to 63,000 square metres, was developed by the owner and largest super fund in the country, Cbus Property.
Designed by Woods Bagot, it has one of the largest building floor plates in the country at 5000 sq m and will accommodate the latest in activity-based workplace formats.
NAB recently extended its lease at 800 Bourke Street, Docklands, until 2027 with the owner of that asset, GPT's wholesale office fund.
NAB's head of commercial property, Monica Klyscz, said the plan to consolidate the businesses into the Docklands area was an indication that the banking sector remained a force in all capital cities.
''The new property is highly flexible and highly intuitive for our employees, who all have different requirements from an office,'' Ms Klyscz said.
''We went to the market with three properties shortlisted, but the convenience and location of the Docklands precinct to transport for our staff was the key attraction. And being next to our headquarters gives us a very flexible footprint.''
Ms Klyscz said NAB was also undertaking a refurbishment of the MLC Campus at North Sydney.
In the Property Council of Australia's office market report for the six months to January, Sydney's CBD vacancy fell from 8.l per cent to 7.2 per cent.
In contrast, Melbourne's rose from 5.6 to 6.9 per cent, its highest in six years.