RYDE’S FORMER NATWEST BANK BUILDING GOES ON THE MARKET FOR £375,000

The former Natwest building in Ryde has gone on the market for £375,000 +VAT. Commercial property consultants Green & Partners have listed the bank on the open market as a ‘prominent freehold’ in a ‘charming town’. The building is located in the heart of Ryde Town at St Thomas’ Square, where Lind Street meets the High Street. Historically, the site was a grand theatre until it was destroyed by a raging fire. For decades Natwest has been a seemingly permanent fixture to the street scene, but it was in March this year that it was announced the Ryde branch was to close for good. Declining footfall and a rise in mobile banking were given as reasons why. The doors were slammed shut for the last time in August. The closure leaves Island customers with just 1 remaining Natwest branch in Newport following previous closures of branches in Sandown and Ventnor in 2011, Cowes and Freshwater in 2015 and Shanklin in 2017. The building’s owners, the Royal Bank of Scotland, moved swiftly to remove all banking fixtures from the building, including a night safe and atm. It’s presumed that the bank’s safe remained in situ. Those interested in acquiring a High Street property will consider this a good opportunity with 2,096sq ft of space on the ground floor and a further 841sq ft on the 1st floor. What’s more, the basement offers a further 1,135 sq. ft of space – which is thought to include the vault. The total space available is just over 4,000sq ft, or 378sq m. 4 car parking spaces are also included in the price. Ryde is now left with just 1 bank branch – Lloyd’s – as well as Yorkshire Building Society and Nationwide Building Society, the latter of which is only open 3 days a week.