IMB Bank has revealed plans for a proposed new head office in Wollongong.
IMB Bank has entered into arrangements for the purchase and development of the site at 47 Burelli Street, Wollongong.
Subject to receipt of development approval from Wollongong City Council, IMB Bank will purchase the land from City Investments Pty Ltd for $8 million and appoint it to oversee the development and construction of a purpose-built head office under a fixed sum contract.
City Investments Pty Ltd’s related entity, Piruse Constructions Pty Ltd, will act as principal contractor.
According to IMB, a development application for the construction of the proposed premises is being progressed, with the building being designed to accommodate staff currently working from the bank’s Crown Street office and to enable the consolidation of operations spread over multiple locations, with capacity for future growth.
The building will reportedly have a sustainable design and provide a range of flexible work and meeting spaces.
The building is to be designed by ADM Architects.
There is an existing commercial premises on the site which would be removed subject to DA approval.
“I think it’s time – we have been in the current building I believe since 1980,” IMB chief executive Robert Ryan told the Mercury.
“IMB has continued to grow. We’ve recently completed a merger with a smaller credit union from the Shire and we’re continuing to grow.
“We wanted to modernise in terms of our premises so they could be set out for our people to be more where our future direction is going, more open plan, more able to look after their needs, wants and requirements.
“We needed to measure that with the fact that we looked long and hard about where we would end up, whether we would build and the like, and came to the conclusion that our heart and soul is here in Wollongong and the Illawarra.
“We want to invest back into the Wollongong CBD, hence the commitment to build a new head office here.”
Mr Ryan said all going according to plan, they hoped to have the new office opened by the start of 2020.
READ MORE: IMB Bank continues to grow