Former banks question.

cheesefest

cheesefest

cheesefest

Soldato
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18 Jul 2021
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Land of Gin (I wish)
Where I live, three banks have closed in last 5 years, two of them pre pandemic. None of the units have been filled. It’s the same with other banks in a few miles from me.

Do you have any former banks that have closed in past 5 years and turned into something else?

Im thinking that the reason why they aren’t being transformed into something else is because of the strong rooms and other things that need to be removed are more costly than converting a former shop. Some former shops closed in that time have been converted into new ones.
 
Banks are wealthy and in no rush to turn property into cash if sitting on them for a while might be more profitable long term. Older banks often have very valuable beautifully made hardwood fixtures and fittings that can add to their value, some are listed buildings. These fittings add purchase costs unless the banks strip the fittings out pre sale. Listed buildings are not what most shop chains want to buy into due to limitations of how they might be altered. Strong rooms are rarely steel lined in high street branches, safes can be weighed in. Just some pros and cons of bank sales off the top of my head.
 
Yes a bank near me that closed recently was bought by one of the big bookmakers who have a branch over the road, they then rented it out to the DIY store next door which was looking to expand. I assume this was to stop a rival bookies opening up.
 
Some epic retro-restorations of old banking buildings. Hopefully it doesn't go like some churches went and get sold for private residence.
 
In my village shops Barclays shut years ago and the building is an employment agency, with a cash machine on the wall. Nationwide were the last to go and their site was taken over by a very nice bakery. Neither site was empty for long.
 
The Lloyds bank that was near me has been gone for a while now, but it was converted to a pharmacy.
 
I think things may have changed now, but at one time, the category of use for a bank was the same as a betting shop, this combined `relaxation of rules around betting somewhere around 20 years ago resulted in a lot of bookies where banks had once been.
 
We have a HSBC that recently closed in the town next to where I live and just before the pandemic a bank in my town was converted to a restaurant and flats above.
 
More than 5 years ago, but an H.S.B.C. closed in Bermondsey and was converted into a low-rise block of flats, another H.S.B.C. less than 1 kilometre away was initially turned into a café/restaurant, then eventually a pub, aptly named “The Bank.”
 
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