• New headquarters a reflection of Westpac’s long-term commitment to Victoria
• Melbourne reaffirmed as national leader for financial and insurance services
• Development exemplifies confidence in Victorian economy

The construction of Westpac’s new Melbourne headquarters reached a major milestone today with Premier Denis Napthine visiting the Collins Street site for the ‘topping out’ ceremony.

Dr Napthine said the redevelopment of 150 Collins Street – a joint venture between Grocon and APN Property Group – was a reflection of Victoria’s strong economy and reputation for delivering financial services.

“Once completed, 150 Collins Street will be the new headquarters of Westpac in Melbourne. Westpac has signed a lease for twelve years for office space over nine levels, commencing from mid-2014,” Dr Napthine said.

“Our state is renowned for its strong financial and insurance services sector with approximately 27 per cent of the national workforce located in Victoria.

“There are more than 110,000 Victorians employed in the financial and insurance services industry contributing more than $33 billion to the state economy every year.

“This development in Victoria and Westpac’s long-term commitment to Melbourne are signs that the Victorian economy is strong.”

Dr Napthine said that such projects had a significant influence on Victoria, through increased investment and enhanced liveability in Melbourne.

“A key focus for this government is economic development right across the state,” Dr Napthine said.

“The Victorian Coalition Government is proudly supporting business and providing the policy and economic conditions that enable them to grow.”