Queensland Country Bank is set to strengthen its presence in Southeast Queensland by acquiring a $19 million commercial building at 247 Adelaide Street in Brisbane.
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The 3,044 sqm property is located in the heart of Brisbane’s vibrant “Golden Triangle” commercial precinct, adjacent to the Post Office Square.
The newly acquired building will serve as the future home of the bank’s Brisbane-based administrative teams and a planned CBD branch. Colliers Queensland, which negotiated the sale, confirmed that the property will complement Queensland Country Bank’s Townsville head office. The building’s remaining space will be leased to existing tenants, generating a steady income stream for the bank.
CEO Aaron Newman expressed the strategic importance of this acquisition:
“The building acquisition was necessary to support the Bank’s strong growth across Queensland, particularly in the South East corner, as it pursues its vision to be Queensland’s best regional bank.”
About the Queensland Country Bank
Queensland Country Bank, originally established in 1971 as Isa Mine Employee’s Credit Union Limited in Mount Isa, has a rich history of supporting Queenslanders. By the late 1970s, its member-owned model had gained traction, expanding to serve employees of Pioneer Sugar in North Queensland. Over the decades, the bank broadened its membership eligibility, services, and branch locations, transforming into a state-wide member-owned bank.
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This latest expansion marks another milestone in Queensland Country Bank’s mission to serve communities across the state. With the new Adelaide Street location, the bank is well-positioned to continue its legacy of growth while offering convenient and accessible services to its members in Brisbane’s CBD.
Published 27-December-2024
