NCB to build new branches in consolidation exercise
NATIONAL Commercial Bank (NCB) plans to convert the premises that once situated SuperPlus on Trafalgar Road into an office complex and aims to build new offices at a former night club location, where it will merge some of its existing operations.
Under its Master Space Plan — aimed at consolidating office space and reducing lease costs — the premises at 29 Trafalgar Road in New Kingston, for which an office complex is slated, will house some of its units that will be relocated from leased property.
In the New Kingston area, NCB operates from its headquarters — the Atrium located on Trafalgar Road as well — its Knutsford Boulevard branch, and it the Towers (also owned by NCB) along Oxford Road.
In its annual report for 2010, the bank also said that the land at 126 Constant Spring Road, which once housed a night club — Backyard — among other entertainment facilities in the past, will be used to “construct a modern branch and to merge the current Manor Park and Manor Centre locations”.
Combined, those two properties cover approximately 12,000 square metres (2.96 acres).
NCB’s operating lease rentals for the year ended September 30, 2010 was $111.7 million, down from $112.6 million, but two-thirds, or $74.2 million of the amount reflecting operating lease commitments for two to five years.
