Metro Bank moves in on another city centre property

Metro Bank has applied to open up a branch in the centre of Bradford.

The business, which also recently bought a lease on a Sheffield property as part of its Northern expansion plans, has put forward proposals for a bank in Bradford’s Xchange building, in Market Street.

In a statement to Bradford Council, the bank explained its latest proposals would create at least 25 full-time jobs.

The statement adds: “The site meets Metro Bank’s key locational and operational requirements and will deliver significant economic enhancement to this prominent site.

“The plans will secure significant lending potential to the local economy, including to SMEs. Metro Bank will be agreeing to a 25-year lease of the premises, which represents considerable long-term investment in the area.

“The introduction of a new Metro Bank will enhance the vitality and viability of Bradford city centre. And this site is within Primary Shopping Frontage, in which retail uses are encourged.”

The bank wants to occupy two units in the eight-storey building, one of which is vacant and used to be a Five Guys restaurant. The other is currently trading as a BrightHouse home goods store.

BrightHouse has confirmed that it is planning to relocate to another unit in the Xchange, so will continue to serve customers in Bradford.

Metro provides retail and other commercial banking services. Last month it confirmed it had bought a 999-year lease on a Sheffield city centre property.

And earlier this year, Metro Bank selected Manchester as its first site in the North of England and announced plans to open 29 more stores in the North by 2025 – creating 750 jobs and over 100 apprenticeships in the North.

This is part of Metro Bank’s ambition to inject more competition into the small business banking market, after it was awarded £120m worth of funding from the Capability & Innovation Fund.