The move is part of the bank’s plan to consolidate its seven existing offices into two locations – Parramatta and the Sydney CBD – in 2020.
NAB beat several blue chip tenants to take up the entire 40,000 square metre tower at 3 Parramatta Square – part of the three hectare commercial, residential, education and public space project by Walker Corporation - on a 12 year lease.
Parramatta Council administrator Amanda Chadwick said NAB’s tenancy in the city was a message that Parramatta was the place to do business.
“NAB’s decision is a beacon to the rest of Sydney that Parramatta is truly a compelling place to work and live,” she said.
“This is a great day for the people of Parramatta to know that a household name like NAB has shown such confidence in the future of our city.”
NAB acting chief technology and operations officer, Matt Lawrence, said the move to Parramatta and Sydney was part of the bank’s plan to prepare for the workplace of the future.
“It also delivers on our commitment to support small and medium businesses in Sydney’s West, an area with immense opportunity and growth,” he said.
NAB’s decision to have a presence in Parramatta comes after the Commonwealth Bank last year announced it would not renew its leases at Parramatta, Sydney Olympic Park and Lidcombe, choosing instead to move to the Australian Technology Park near Redfern.
