ANZ, a provider of banking and financial products, has announced the sale and lease back of 47 branch sites and three commercial office buildings across Australia as part of its long-term property strategy.
The company said that the properties are available with secure long-term leases from five years and the majority at 10 years, with five year renewal options of up to 20 years. The 47 branches are the only remaining fully-owned retail sites of ANZ’s 800-plus national branch network.
Jane Hamilton, the bank’s global head of property, said that the branches continued to be an important part of the bank’s network and reflected its ongoing commitment to those key communities. Ms Hamilton said that the bank had opened more than 80 new branches since 2004 and had chosen to lease rather than purchase the sites outright in line with its long-term property strategy.
The sale and lease back of the ANZ portfolio will be managed by real estate and money management firm Jones Lang LaSalle and has a potential end-value of more than $100 million. It includes 27 regional and 20 metropolitan branch sites of which 13 are in New South Wales, six in western Australia, nine in south Australia, 13 in Queensland and six in Victoria. The three office buildings are located in Brisbane, Adelaide and Perth.
Ms Hamilton said: This will be business as usual for both our people and our customers. The sale and lease-back of these sites is about focusing on our core banking business and providing great service to our customers.