Former Lancaster bank site set to go up for auction

The former RBS branch on New Street in Lancaster is due to go up for sale by auction next month.

The building will feature among around 60 properties in Pugh’s next property sale, which will be held online on September 9.

The 4,000 sq ft, three-storey bank was closed in April 2018 as part of RBS’s nationwide closure of branches and shift to digital banking. It is being auctioned with a guide price of £300,000.

Pugh managing director, Paul Thompson, said: “The former RBS branch is a handsome building that would be really well suited to a variety of potential new uses, subject to obtaining the relevant planning consent.

“It’s also in a great location, on pedestrianised New Street in the city centre, and it would be fantastic to see it gain a new lease of life in the hands of an imaginative investor and become an asset to Lancaster once again.”

Pugh has continued to hold property auctions since the Government introduced social distancing regulations in March, switching its operations to its existing online auction platform.

The auction house has sold more than 120 lots and reported sales of in excess of £11m at its online auctions since lockdown.

Acquired in 2016 by property consultant Eddisons, Pugh was founded in 1992 and has grown to become one of the largest commercial auctioneers in the UK, selling residential and commercial properties as well as land from a range of offices, inclucing Liverpool, Manchester and Newton-le-Willows.