The former Lloyds Bank branch in Shanklin has recently been purchased by Southampton-based Purpose Property Group.
As previously reporter by Island Echo, it was first announced back in March that the national banking giant was to close a total of 24 branches, the Shanklin branch was one of those casualties.
As a result, the Regent Street branch was subsequently closed on 26th July 2022.
Tony Scotcher from Scotcher & Co the specialist commercial estate agent based in Carisbrooke Road, Newport said:
“The proposed work by Purpose Property Group is an excellent example of regeneration of a much-loved building in heart of Shanklin and bringing the unit back into use, can only be good thing for the local community.”
“We don’t yet have a retail tenant for the unit however, we expect to give the premises excellent exposure to the market and are looking forward to a great deal of interest from local businesses and applicants, and fully expect to have the unit rented out by March/April next year.”
Monika Litkowska, architect from ML Designs will be working with the Purpose Property Group team to ensure that the renovation work keeps to schedule, and is sympathetically completed and in keeping with the surrounding buildings.
On what lies in store for the former bank, Monika has said:
“We plan to change the official address of the property to Lloyds House, 3 Regent Street, Shanklin as a reminder to the history of the building.”
Purpose Property Group is based in Southampton and has close ties to the island having completed several property purchases and renovations in Freshwater, Newport and East Cowes.
It would make an ideal banking hub for the town.
Nice one. What happens to the druggy dosshouse behind it? Or will the new developers team up with the hair salon on the corner and put in another 100 flats??
Changing the name to ‘Lloyds House’ might give a hint to further ‘development’.. I cant see a shop unit being in a building of this name, but apartments, Flats or bedsits with ‘Flat 1, Lloyds House’ in the address does lend a more likely outcome for the ‘development’.
Likely another HMO, ( A house of multiple occupancy) containing the diverse selection of: alcoholics, drug addicts, those who have been evicted for destroying previous homes given free by the state to them, wife beaters,add a smattering of thieves, s ex pests, asylum scroungers, pedo’s, and mental health violent beings, and we have a micro mix of the UK’s now non-working class and underclass mix all contained under one roof.
God help anyone normal and in genuine need of such places now we have allowed scum to be spread into once decent areas.
The Council, MP’s and Police have let society down badly, but as none of them will be ever affected by such, ensuring it never happens near them, then, they could not care less.
What a truly horrible person. My god, I’m glad I don’t know people like you.
She’s not wrong though, is she?
factually yes she is wrong! ask the couple that both work full time living in the top flat there.
Spencer, so we can deduce from your reply, you either live well away from all the above mentioned by ivy, or you are in one of those classes yourself.
My money is on the former so can give ‘distant pity’ safely away from such cretins.
“We plan to change the official address of the property to Lloyds House, 3 Regent Street, Shanklin as a reminder to the history of the building.” Who are they kidding? Another charity shop.
Also this wasn’t the original Lloyds Bank location in Shanklin it used to be on the Corner of High Street and Steephill Road