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The 800-bay parkade is on the corners of Pritchard and Sauer Streets and will aesthetically blend with the existing five-building BankCity complex.

'This development will provide additional parking to meet the expanded needs of the bank's business units based at BankCity,' says Robert Keip, CFO of FirstRand Retail.

FNB says the parkade will enhance the BankCity precinct significantly and will be interconnected with BankCity, providing staff with safe and easy access from their office environment.

The 14-storey FNB Card House is to be demolished to make way for the parkade development. FNB Card House was constructed in the 1970s and, as such, has poor cable management and little adaptability. The building was vacated two years ago, when FNB’s card division moved into better accommodation at BankCity.

Demolition work has already commenced by Wreckers Demolition. Because of its proximity to a mosque and BankCity, the building will be demolished from the top down rather than imploded.

The new parkade will consist of eight levels above ground and four levels below ground. It is scheduled for completion in December 2003.