Rabobank New Zealand to relocate Wellington head office

Rabobank New Zealand has announced it will relocate its Wellington head office to new premises in the Vodafone Tower on Lambton Quay.

The relocation is expected to take place in the first half of 2011.

Rabobank will occupy all of level 23 and part of level 19 of the building, which has 360 degree views of Wellington’s harbour and CBD.

Rabobank general manager New Zealand Ben Russell said the relocation had become necessary due to the growth of Rabobank’s New Zealand head office operations, driven by the bank’s ongoing expansion in the country.

The New Zealand arm of the world’s leading food and agribusiness bank, Rabobank New Zealand is one of the largest lenders to the country’s rural sector and a significant provider of business and corporate banking services to the food and agribusiness sector. Rabobank also operates online banking business RaboDirect (formerly known as RaboPlus).

Rabobank is currently headquartered at 80 The Terrace in Wellington.

“There are practical and long-term considerations to the move,” Mr Russell said. “In a practical sense, our business in New Zealand has outgrown the office space we’re in as we’ve taken on new business and our staff numbers have grown. The new premises will not only provide superior facilities for head office employees, but also offer room for further expansion in the future.”

Rabobank has taken out a nine-year lease – for 1470 square metres – with owners AMP NZ Office Trust.

Independent property advisers Dow Group assisted Rabobank through the process of developing its requirements, assessing options and concluding commercial terms.

Dow Group managing director Dean Croucher said Rabobank’s relocation to the Vodafone Tower was a “positive outcome for the Wellington economy when such a well-regarded international bank makes a strong commitment to its future”.

The fit-out of the new premises will commence in January 2011.

Mr Russell said the new office would be designed to reflect the brand and culture of Rabobank. The premises would provide a work environment that focuses on efficiency, communication, staff facilities and a sense of light and space.

“We’re keen for the building to reflect the professional Rabobank image, as well as to show we’re a New Zealand agri-bank with strong Dutch heritage,” Mr Russell said. “The main objectives of the fit-out will be to ensure greater efficiencies and provide improved facilities to engage people in their work environment.”

ENDS

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