THE Commonwealth Bank has confirmed it will be relocating to 188 Macquarie Street as a major tenant in the refurbishment of the western side of the Dubbo Commonwealth Offices.

Building owner Macquarie Commercial Property is spending $800,000 to overhaul and modernise a large commercial space that has been vacant since Centrelink moved to the corner of Wingewarra Street and Carrington Avenue three years ago.

Macquarie Commercial Property company secretary and managing agent Anna Samuels said it was exciting to be revamping a building long regarded as a keystone of Dubbo’s central business district.

“Our company is made up of three private shareholders based in Dubbo, Trangie and Hawks Nest,” she said.

“We have confidence in Dubbo and believe property owners should be encouraged to think about sprucing up buildings in the main street.

“Injecting new life into the Commonwealth office block is good for our company and the business community.

“We have a mix of government and non-government tenants. Having an important financial institution in the building will increase the already high foot traffic in the area.

“Two retail shops are still available for lease. There are opportunities for two tenancies of around 165m2 each or the possibility of a larger tenant using the combined retail space.

“We have been negotiating with retailers for the corner shop but nothing definite has been confirmed.

“The businesses we have spoken to are metropolitan-based with stores in regional centres.”

On Friday tradesmen engaged by the Tamworth-based Formline Group were placing three-metre high tiles on the Wingewarra Street side of the building.

An adjacent area was being prepared for render. The rest of the building was to be fitted with full-length frameless glass.

A metal awning with bronze cladding on the underside would complete the exterior revamp.

“When the work is finished the building will have a very modern, upmarket look,” Mrs Samuels said.

“The financial institution and two shops will have Macquarie Street entries.

“An additional 760m2 area facing Wingewarra Street is not involved in the current work.

“Change of use to retail has expanded the possible use of this area for retail or office space.

“Further works will take place on securing new tenants.

“Once the temporary wooden hoarding is removed from the outside of the building and the glass front is exposed the community will be able to see what we have set out to achieve.

“It has been a long process to get to this stage. It will be exciting when the work is finally finished.”

A spokesman for the Commonwealth Bank said business would continue as normal at 88-90 Macquarie Street until building work was complete at the new site.

Dubbo Chamber of Commerce president Matt Wright welcomed the relocation of the Commonwealth Bank and significant improvements being made to the government office block.

“Having Australia’s largest bank investing a substantial amount of money into the future of their business in Dubbo breathes an element of confidence in the central business district,” he said.

“It is a great example of big business showing a willingness to spend money in Dubbo.

“The substantial work being undertaken will totally transform a building that has been a little bit of an eyesore on a prominent corner.

“More work is set to be undertaken across the road at the old Sam’s Warehouse building.

“The creation of modern, attractive retail spaces will bring new businesses and more employment into the central business district.

“The sense of busyness being created is important and is just what Dubbo City Council has been looking for in its Dubbo Ignite promotion.

“The new challenge will be what to do with the northern end of Macquarie Street which is already looking tired.

“The problem will be exacerbated at that end of the central business district when the Commonwealth Bank leaves its current location.

“It is not good to have large empty spaces in the main street. The historic building formerly occupied by Telstra and originally Dubbo’s post office has been sitting unused for too long.

“From what I understand, there are some maintenance issues with the building.

“There are also issues with planning decisions made some time ago that encouraged large government offices in the central business district.

“On weekends and at night these offices are dead. It would be better to have more retailers and hospitality businesses.”

Mr Wright said the renovation and restoration of the historic building now known as the Old Bank Restaurant and Music Shop had added a new vibe to main street.

“The owners put a lot of money into the project but their investment has paid off,” he said.

“The restaurant is a popular haunt during the day, at night and especially on weekends.

“It would be good if businesses in the northern end of Macquarie Street were able to generate a similar positive atmosphere.”