02 November 2013

Westpac confirms move back into Christchurch CBD

Westpac New Zealand will be moving into state of the art premises and transferring its operations, support services, business bankers and a flagship branch into a prime position in the new Christchurch CBD.

The Terrace Building C Bridge of Remembrance Westpac logo 1 megabyte





More than 450 staff will move into a certified Green Star Five, five storey building on the corner of Oxford Terrace and Cashel Mall as part of the new Central City Retail Precinct. The building will be one of the first completed on The Terrace site being developed by Hereford Holdings Limited and designed by renowned New Zealand architects Jasmax. Construction is expected to start in August 2014 and be ready for occupation by mid 2016.

Chief Executive, Peter Clare, said Westpac has stood beside Christchurch since the earthquakes began and he committed to returning to the CBD last year in line with the Government's plan for the city's redevelopment.

“Since we made the commitment last year we've been exploring alternatives and looking for the right option in the new Central City Retail Precinct. Westpac will now play a key role in how the heart of the city takes shape.  We're very proud and excited to be taking such a prime site and getting on with moving home to the CBD and to help restore Christchurch to its former glory.”

“Westpac has been part of Christchurch and the wider Canterbury region for over 150 years and we understand the important role big business has to play as the new city takes shape.”

“It is important for our staff and our customers to know we are committed to the birth of the new city centre and to Canterbury's future more broadly.  I look forward to opening our new premises in 2016”

Westpac will be the exclusive office tenant in the building and there will also be a flagship branch fitted with the latest technology. Escalators will lead up to the first floor corporate reception with offices above for the corporate and operational support teams. The surrounding development will host a mixture of commercial, retail and hospitality businesses.

The building is being constructed to the highest standards of the building code and will be seismic grade A quality. Since the earthquake of September 2010 Westpac has been based at Show Place in Addington, across the road from where it built the Westpac Business and Community Hub for dislocated businesses.