CBA to move 10K Sydney employees to revamped tech park

Commonwealth Bank has arranged to move 10,000 employees to the Australian Technology Park, a business and technology centre in inner Sydney undergoing a $1 billion redevelopment.

A consortium led by the Mirvac Group has acquired the park from the NSW Government, with plans to develop the 14-hectare Redfern site into a business precinct. Construction is expected to be completed in 2020.

The revamped park will be designed to comply with 5 Star NABERS Energy and 6 Star Green Star energy and water efficiency ratings.

As well as campus-style offices the area will house sporting facilities, childcare and specialty retail premises, as well as cafes, bars and restaurants.

Commonwealth Bank will be the anchor tenant for the revamped park.

The company plans to use the campus to replace its existing offices in Parramatta, Olympic Park and Lidcombe. The company will also integrate the operations of the new office with its offices in the Sydney CBD — at Darling Park, Commonwealth Bank Place and Darling Square.

“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,” the bank’s CFO, David Craig, commented.

“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.”

Some members of the Australian technology sector have expressed disappointment that Mirvac’s proposal was accepted over a rival bid by Atlassian aiming to turn the site into a technology hub.

Pictured: Australian Technology Park