People First Bank partners with FKG Group to develop landmark new head office in Toowoomba

14 November 2024

People First Bank has announced a significant new partnership with the award-winning, locally based FKG Group to develop a new five-storey head office in Toowoomba’s CBD. 

This project represents a major investment in the region and underscores the bank’s long-term commitment to the city.

The announcement was made at People First Bank’s 2024 Annual General Meeting, held in Toowoomba today.

The new head office at 502 Ruthven Street will accommodate up to 400 employees in a modern, adaptable work environment. The building will feature large open floors, communal working spaces, ample meeting rooms and contemporary amenities such as end-of-trip facilities and a rooftop communal area. 

There will also be additional office spaces for lease, accommodating a further 200 people. The ground floor will host three retail spaces including a new People First Bank branch.

A commitment to Toowoomba’s future

People First Bank CEO Steve Laidlaw said the new head office would create a vibrant new presence in Toowoomba’s CBD.

“This development is about more than just a building,” Mr Laidlaw said. “It is about creating great careers for locals at People First Bank and fostering an environment that attracts and retains top talent to best support our customers.”

Mr Laidlaw also highlighted the broader impact: “By maintaining dual head offices in Toowoomba and Adelaide, we are reinforcing our commitment to supporting regional economies and local jobs.”

“Site clearance is already underway, and we anticipate construction will begin by mid-2025, with completion by late-2027, subject to approvals,” Mr Laidlaw said. 

A partnership with local expertise

FKG Group, which has a 50-year history of delivering projects that drive economic growth, will lead the development. As a company headquartered in Toowoomba with offices across Queensland, New South Wales and the Northern Territory, FKG is ideally positioned to deliver this landmark project.

“We are incredibly proud to partner with People First Bank on this project,” said Group Manager of Developments at FKG Group, Jack Gardner. 

“Like the bank, we are deeply committed to Toowoomba’s future. This development will not only enhance our city but will also provide opportunities for local suppliers, subcontractors and hundreds of workers, stimulating the local economy.”

A long-term investment in the region

Under the agreement, FKG Group will own and operate the building, with People First Bank committed to an initial 15-year lease as the anchor tenant with naming rights. Final design specifications are still being finalised.

The new building will replace People First Bank’s current location at 400 Ruthven Street. The bank is currently exploring options for the future use of that site.

People First Bank was created by the merger of Heritage Bank and People’s Choice in March 2023. It is Australia’s leading customer-owned bank with $24.5 billion in assets and 2,100 employees serving more than 700,000 customers. 

Media enquiries

Andrew Fox, People First Bank, 0419 714 204 | fox.a@heritage.com.au

Hayley Hubbard, FKG Group, 07 4620 0500