Former major bank building in busy Northampton street goes up for rent after branch closes down for good

A former major bank building in a busy part of Northampton is up for rent after it closed down earlier this year.

Lloyds Bank closed down its massive branch in Wellingborough Road, Abington, on October 9 after more than 15 years at the site.

The one remaining Lloyds Bank branch in Northampton is the huge one in George Row, which has been trading there for decades.

A Lloyds Bank spokeswoman said: “As many customers now choose to bank online or through their mobile app, visits to our Abington branch fell over recent years. Customers can continue to bank with us online, over the phone, in person at George Row, Northampton branch, or the local Post Office on Barry Road.”

According to the spokeswoman, branch transactions at the Abington branch fell more than 65 per cent between 2018 and 2023.

All colleagues at the Wellingborough Road branch have been offered other roles across the business, the spokeswoman added.

The 2,300 square foot building currently stands vacant and an eyesore on one of the town’s busiest streets.

The building is now up for rent with CBRE real estate.

A sales advert reads: “The subject property comprises a large modern two storey retail unit. The ground floor provides the main banking hall and meeting rooms, with staff and ancillary on the first floor. Externally there is a small loading yard at the rear providing approximately three car parking spaces. Part of the ground floor demise known as 277 Wellingborough Road is sublet to ACS Recruitment.”

The property is held on a leasehold basis through a sublease, set to expire on 23 June 2025. The rental cost for this space is £30,000, and it is important to note that this property is not subject to Value Added Tax (VAT), according to the sales advert.

In terms of rates, information from the Local Rating Authority indicates a current Rateable Value of £27,000 for the shop. Prospective parties are encouraged to independently verify this information by reaching out to the Local Authority for confirmation.

It was announced in January this year that three of the UK’s major banks will be closing 53 more branches in the next two years. Lloyds, Halifax and Bank of Scotland will all close some of their physical stores in another blow for the High Street.

The announcement means 21 Lloyds Bank, 15 Halifax and 17 Bank of Scotland sites will close for good between September this year and May 2024. The news comes in addition to the 98 branches the banking group has already said will go this year - including 62 Lloyds, 32 Halifax and four Bank of Scotland sites.

Some support has been put in place by banks for people that need help with online banking or who cannot reach a physical store. Some banks like Lloyds, offer a ‘mobile service’ which is set up on specific dates and times each month to give you access to support.