Former Bank Branch in Town Centre to be Converted into Flats

A building that previously housed a high street bank is scheduled for transformation into residential apartments within the town centre. The property, formerly a Barclays Bank branch located on King Street in South Shields, South Tyneside, has been acquired by a private investor. Regal Bifrons Properties intends to redevelop the structure into a total of 26 residential units, comprising one-bedroom flats and studio apartments. According to Director Daniel Goggins, the company was drawn to the town due to its “huge untapped potential to become a vibrant centre.” Constructed in the early 1800s, the curved sandstone edifice spans 12,410 sq ft (1,153 sq m) and features frontages on both King Street and Fowler Street. The property was listed for sale earlier this year with an initial asking price of £375,000; however, its ultimate transaction value remains undisclosed. Barclays ceased operations at this branch on 8 March, relocating to the former Burton’s retail unit situated on the same thoroughfare. Mr. Goggins stated that the company’s proposals for the building are designed to align with the regeneration masterplan of South Tyneside Council. This masterplan seeks to construct residences, redevelop underutilized locations, and enhance the diversity of the town centre. Mr. Goggins further commented, “Over the course of the next three years we plan to deliver 250 new apartments in South Shields which will attract major retailers to the high street.” Naylors Gavin Black facilitated the transaction for the bank branch. Chris Pearson, a Partner at the firm, described the property as among the town’s most “stunning and recognisable” buildings. The proposed transformation of the building is contingent upon obtaining planning permission.