Bank will move to Deepwater Plaza

The Commonwealth Bank of Australia has committed to a seven-year lease on 242 square metres of space at Deepwater Plaza and will relocate from its existing branch at Blackwall Rd, Woy Woy.

"The convenience of parking is a major drawcard for the bank with an additional 101 car spaces created as part of the $9 million refurbishment and expansion of Deepwater Plaza," according to Deepwater Plaza centre manager Ms Julie Marr.

"The deal is a sign of confidence in the shopping centre as well as the retail market in the Peninsula area."

The deal was negotiated by Savills Leasing Department.

The redevelopment of Deepwater Plaza is due for completion in July.

As well as new car spaces, the redevelopment will create an additional 14 specialty stores.

The main entries and verandahs will also be refurbished to create "a brighter, more appealing welcome for customers".

Best and Less and The Reject Shop will take the new space and support existing major retailers including K-Mart, Coles and Franklins.

The Commonwealth Bank is set to open at Deepwater Plaza on May 15.

Press release, April 5 Julie Marr, Deepwater Plaza