IOOF heads downtown
IOOF is selling its St Kilda headquarters building to release capital for further expansion of its fund management business, says group managing director Robert Turner.
IOOF is selling its St Kilda headquarters building to release capital for further expansion of its fund management business, says group managing director Robert Turner.
The company is moving to a Collins Street address. The lease was expected to be signed as Money Management closed for press.
Turner says the new headquarters would be known as The IOOF Centre and is located “midway along Collins Street”. The new centre will have a retail presence on the ground floor with the company occupying a number of floors above.
IOOF owns another small CBD building, which used to house Winchcombe Carson financial planning.
“Our wholesale fund management business is developing and that means we want to be near our customers, most of whom are in the city,” he says.
IOOF’s current headquarters consists of two buildings and has been the company’s base for most of the last decade. Its position is regarded as being outside Melbourne’s central business district.
The building has been offered for sale by tender and Turner says IOOF is looking at the offers now with a decision to be made in the next couple of weeks.
IOOF intends to move its operations into the city by the end of July.
“The move is about lifting the profile of IOOF to give us a city presence,” Turner says.
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