Fast food on the go as bank moves in

THE National Australia Bank has signed a 10-year lease to open a one of a kind branch at the former Red Rooster premises in the Murray Street Mall later this year.

A NAB spokesperson said the branch would provide an open banking experience, removing physical barriers separating staff and customers.

"Striking a balance between open plan ambience and the need for privacy is very important in retail banking," the spokesperson said.

"At our Murray Street Mall branch we're providing a range of meeting areas which will provide for casual chat at our comfortable lounge chairs, a discussion with a banker at their open plan desk, through to a private meeting in one of the customer meeting rooms."

Red Rooster's five-year lease agreement with landlord Perth Central Holdings expired this month and Perth Central did not seek a renewal with the franchise or the three other lessees at the site.

Geoff Doughty, senior portfolio manager at Lease Equity which is managing the NAB deal, said the bank's concept branch would generate a lot of interest and appeal from the public.

"NAB was looking for premises of approximately 460 square metres and these premises suited their style and new concept and after doing the deal there was no space left to offer any of the individual tenants [another lease]," Mr Doughty said.

Meanwhile, McDonald's Australia has confirmed it has permanently closed its Forrest Chase franchise adjacent to Myer and Creative Native Aboriginal Art Gallery in Perth, after the lease expired this month.

McDonald's Australia regional manager Andrew Gregory said the location and design of the building no longer suited the franchise's business model.

Mr Gregory said the investment required would not be a profitable business decision and McDonald's Australia was now seeking to locate suitable premises closer to the Murray Street Mall.