A BANK branch in Kendal that was confirmed to be closing in July has gone up for rent at less than £40,000 a year.

The corner unit, home to Virgin Money, is in a prominent position having frontages to both Stricklandgate and Finkle Street.

The property, which has three levels, is up for rent at £37,500 per annum. The ground floor is the largest space which measures just over 1,000 sq ft. The first floor is 830 sq ft with the basement slightly smaller at 790 sq ft.


The Westmorland Gazette: The Virgin Money branch on Stricklandgate which is set to close

The property once saw life as a Yorkshire Bank branch. On July 20, Virgin Money announced plans to close 39 stores after stating it had to adapt to changing customer demand.

The company said the number of customers using bank branches for day-to-day transactions had been on a downward trajectory for a number of years. The stores which are closing have seen an average reduction in customer transactions of 43% since March 2020 and 96% of customers in these stores are transacting less than once a month on average. 

Each store was assessed on an individual basis, with the bank saying careful consideration was given to the impact on the local area, as well as the needs of vulnerable customers and the accessibility of alternative services such as free-to-use ATMs and Post Offices.

Every branch closing is less than half a mile from the nearest Post Office, which customers can use to carry out day‐to-day transactions, including cash deposits and withdrawals, cheque deposits and balance enquiries, as well as coin exchange.

To find out more about the property for sale, please visit the Completely Retail website.