Challenger bank set to open flagship operation in Birmingham
A challenger bank is set to move into the West Midlands with the opening of a new flagship store in the heart of Birmingham city centre.
The move by Metro Bank will create 30 new banking jobs for the city.
The company has submitted plans for the occupation and refurbishment of a prominent site at the corner of High Street and New Street, opposite the former entrance to the Pavilions and close to the Bullring Shopping Centre.
The site is currently occupied by retailers Vodafone, Foot Asylum and Card Factory.
A design and access statement to accompany the application has been prepared by Planning Potential. It states: “The proposed site meets Metro Bank’s locational and operational requirements in a city centre location and will deliver significant economic enhancement as the first store in the West Midlands.”
The bank said it was demonstrating its commitment to the city by taking out a 25-year lease on the property.
“Metro Bank have a longstanding requirement for a principal regional store in Birmingham, as the major centre for the Midlands. Terms have been agreed with the site’s landlords,” adds the statement.
In addition to being the bank’s first branch in the West Midlands, the outlet will be the flagship operation for the region.
The Birmingham operation will also be slightly larger than its other outlets, which typically create around 25 jobs.
The 482 sqm scheme will replace the three current units and in addition to the street level frontage, will occupy the four floors above.
“Metro Bank will completely strip back the existing elevations and replace these with a high quality and contemporary facade including double height glazing to give the unit a transparent appearance and bring the prominent corner to life,” adds the statement.
The bank has already held talks with Birmingham City Council to outline its proposals.
Metro Bank is the UK’s first new retail bank in more than 100 years, providing both retail and commercial banking services. The model is based on a retail format, hence the location at the heart of the busy shopping area. The move into Birmingham is part of its national growth strategy.
It is not the only new banking operation set to open in the city centre.
Clydesdale and Yorkshire Bank is set to open its new premises in New Street – opposite the former BHS store – next month (September).
