An empty bank in Whitley Bay town centre could be given a new lease of life as flats.
279 Whitley Road was formally the home to a branch of HSBC, but it closed its doors for the final time on May 2. The closure was part of a mass closure of 114 branches across the UK.
HSBC stated the closures are a result of the prevalence of online banking making physical banks unnecessary. According to HSBC, nine in ten customers now transact via phone, internet or smartphone whilst 99% of cash withdrawals are made at an ATM.
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HSBC also has an agreement with the Post Office to allow customers to conduct their banking in person. The closest Post Office can be found at 205 Whitley Road.
However, a planning application submitted to North Tyneside Council details plans to convert the building into two two-bedroom flats on the first floor and keep the ground floor as a "commercial space".
Whitley Bay councillor John O'Shea said: "I am so pleased that an application has come forward for the redevelopment of the building otherwise it could have become a blight on the landscape of Whitley Bay.
"It would be awful to have that building standing empty. The fact this application has come forward shows Whitley Bay is a good place to do business and for housing.
"I am pleased this application has come forward."
Since December 2022, two other banks announced they were closing their Whitley Bay branches. NatWest, on 18 Park View, will close on July 20, 2023. The financial giant stated one reason for the closure was a 53% decrease in in-person transactions.
Halifax, also on Park View, is set for closure on June 21.
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