The ANZ bank has indicated that it is planning a shift of its head quarters in Melbourne to Sydney.
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The ANZ bank is a major employer in the heart of the city and its exit from Melbourne would deliver a big blow.
The main reason stated for the ANZ's planned move is intransigence from the Melbourne City Council which in its view has shown little to no care to its concerns about planning and services.
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The ANZ bank is not the only corporation that is getting the raw end of the deal. The ANZ occupies one of Melbourne most historic buildings in Collins Street. It really is a gem dating back to Melbourne hey day in the gold rush. It would be a real blow to see the bank vacate these premises.
Whilst it is difficult to make a full assessment of the ANZ banks concerns without have access to its exact requirements and the reasons why the City of Melbourne could not accommodate their concerns. The departure of the bank will reduce the City Council's bank balance and unless a new tenant of standing can be found a huge hole in Melbourne financially sector with added concern that other financial sector business will follow..
We do not think the State Government would be happy in hearing the news. "John Brumby is most likely calling for crises talks in the cabinet as we speak. The sand has not yet run out of the hour glass and hopefully the City of Melbourne can demonstrate is desire and find a solution to the Banks problems.
The onus is now on Rob Adams, City Director of planning and Design - Innovative City, to come up with a compromise. Rob Adams is well known for his ability to capitulate when the going gets tough (remember his quick back-down and loss of integrity on the issue of the relocation of the Museum to the Carlton Gardens - he knew it was wrong for Melbourne and wrong for the Museum but he couldn't have back-down faster if he was driving a porche under pressure from the then Premier Jeff Kennett and his cohorts.)
Well Rob this is one of those monuments we wait with interest to see what you can come up with, that is unless it is way too late.