Westpac departs landmark tower, naming rights up for grabs

ICAM - Westpac departs landmark tower, naming rights up for grabs image

Posted on: October 26, 2022


Original Article from The Advertiser

 

A new brand will emblazon one of the city’s most recognisable buildings following Westpac’s departure from its long-standing city headquarters.

Westpac House on King William St stood as the city’s tallest building for more than three decades after it was built in 1988, and has been home to Westpac since 2007.

The bank is currently looking to consolidate its city offices into a new CBD base, meaning naming rights are up for grabs for the first time in 15 years. Westpac House ownership is shared between Abacus Property Group and Adelaide-based fund manager ICAM.

ICAM managing director Freddy Bartlett said existing tenants in the building and other companies interested in relocating to the building had already expressed interest in securing the “iconic” naming rights.

“91 King William is arguably the most prestigious location for corporate signage in South Australia,” he said. “This tower is the most recognisable landmark in our beautiful Adelaide skyline and has prominent signage which international and interstate passengers immediately notice when descending into Adelaide Airport.”

“There have been several inquiries regarding our signage and once we identify the most appropriate party and agree terms we will create a new icon in Adelaide’s skyline.”

 

Westpac House was initially known as the State Bank building when it was constructed in 1988, but following the bank’s collapse in the early 1990s, its branding was briefly replaced with BankSA’s old sturt desert pea logo.

Oil & gas giant Santos retained naming rights for 12 years from 1995, before its relocation to new offices on Flinders St in 2007.

Current tenants in the building include real estate firm Knight Frank, technology company TeamViewer, law firm HWL Ebsworth, the Australian Securities & Investments Commission and other federal government departments.

Westpac staff have relocated to the headquarters of subsidiary BankSA, also on King William St, as the bank considers a potential move.

It’s currently on the lookout for up to 7000sq m of office space in the CBD, in a building ready for occupancy in 2025. In a statement the bank said it was reviewing its property footprint in line with its “simplification strategy”.

“The review includes our property footprint in South Australia and we will provide an update if or when decisions are made.”

Mr Bartlett said ICAM was in talks with potential new tenants to take over Westpac’s vacated space, with most interest coming from the defence, engineering and technology sectors.

He said several new initiatives had been set up at Westpac House to attract office workers back to the building including a fresh towel service, professional concierge, dry cleaning, fitness classes and arts displays and performances in the foyer.

The building’s new Vault 91 cafe and wine bar hosts regular networking events and business functions, Mr Bartlett said, while upgrades to the building’s entrance points from King William St, Currie St and Anster Lane are also planned.

“We are seeing more and more staff returning to the CBD which is a benefit to not only our building, but the entire CBD, including hospitality and retail traders who create the fantastic vibe in our wonderful city.”

 

The brands that have lit up 91 King William St: 

Westpac 2007-2022

Santos 1995-2007

BankSA 1994-1995

State Bank 1988-1994