The bank will announce the plans today, but have said no site has yet been identified in Toowoomba’s central business district.
It is nearing a point where it will announce a developer before settling on where the headquarters will be built.
“At this stage no costing is available but the investment would be significant,” the bank said.
Heritage said it would place the new building in a property trust allowing its members to invest in it.
The bank aims to complete the building by 2025, in time for its 150th anniversary. It was originally known as the Toowoomba Permanent Building Society.
Heritage is in the middle of a merger with Adelaide based People’s Choice and it is expected that it will retain a presence in both cities.
Chairman Kerry Betros said the development would not contingent on the merger.
“Toowoomba is our home and we are absolutely committed to retaining our head office here,” Betros said.
Chief executive Peter Lock said the bank had outgrown its current office but no decision had been made on whether it would be retained after the new office is completed.
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