Bank branch closes in spite of residential development

DESPITE opportunities inherent in the near completed and proposed residential developments around East Perth, the Commonwealth Bank has closed its 251 Adelaide Terrace branch.

The East Perth Redevelopment Authority has nearly finished its work in East Perth and residents are starting to move in.

The EPRA has extended its boundaries to include land on which WA Government-owned buildings such as the Chemical Laboratories, the old MetroBus depot and the current Police Headquarters now stand.

This land is earmarked for redevelopment to create more residential use in that part of the CBD.

Commonwealth Bank general manager national sales and service Peter Andrews said the branch in question was no longer used by a majority of its customers.

“They either use other branches or methods such as phone or Internet banking,” Mr Andrews said.

“I feel we’ll be able to meet the emerging needs with the three branches that are within one kilometre of that branch.”

With the closure of the 251 Adelaide Terrace branch, Commonwealth Bank branches remain at 150 St George’s Terrace, 42 Bennett Street, 86 Barrack Street and on the corner of Murray Street Mall and Forrest Place.

The bank also has postal agencies at 26 St George’s Terrace, 249 Hay Street in East Perth, 66 St George’s Terrace and at the Forrest Place Post Office.

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