Banks make further investment in Wodonga CBD redevelopment

PICTURED: Wodonga Place, 107-117 High Street, Wodonga

WRITTEN BY: David Johnston – JANUARY 12 2018 – 5:00PM


Wodonga Woolworths complex filling up with tenants at the expense of High Street

THE Commonwealth Bank has become the third financial institution to relocate to the multi-million dollar Woolworths redevelopment since opening in central Wodonga in August last year.

The branch will occupy the three remaining tenancies facing High Street when it makes the move in April.

The Hume and ANZ banks were the first to make the move with other tenancies being filled up in recent times by Jannoel Florist and more recently the Border Barber Shop which was previously in Sesame Lane.

Along with the Commonwealth Bank the majority of tenants in the Woolworths building are coming from other parts of High Street.

The Commonwealth Bank opened its first branch in Wodonga in 1961.

“The new premises will provide customers with more ways to bank, especially with our 24-hour lobby offering ATMs with instant deposit capability, a feature welcomed by small business customers,” a company spokesperson said.

At present, there are 10 shops including the former Coles supermarket available for lease in High Street in the stretch between the water tower and South Street which will be upgraded in two sections over the next 18 months.

Coles relocated to the Mann Shopping Centre which opened in October and its owners are still chasing a tenant for a shopfront on the corner of High Street and Elgin Boulevard.

Business Wodonga chairman Graham Jenkin said the new developments were highly attractive.

“Businesses nowadays look at energy efficiency and new buildings do provide that to some degree,” he said.

“Landlords need to make sure their buildings are suitable for purpose and as efficient as possible for business to operate from.

“Maybe some of the landlords with the older buildings may attract smaller businesses stepping up to having a retail presence and review their rent structures accordingly.”

LJ Colquhoun Dixon director Andrew Dixon also confirmed F45 gymnasium had taken out a tenancy on the corner of Elgin Boulevard and Hume Street of the Woolworths complex.