Loftus High Street, Bank ConversionRedcar and Cleveland Borough Council

“We are absolutely delighted to be opening up the building to residents who will see a dramatic difference. Our aim is to transform the area into modern market town for the future and with the delivery of each project we will be creating a more vibrant place for all who work, live and visit here.”
Cllr Chris Gallacher, Cabinet Member for Economic Development at Redcar & Cleveland Borough Council

To combat the area’s distinction of being the most deprived in Redcar and Cleveland, the Council (RCBC) put together an £11M package for a masterplan – which includes everything from road improvements to a new library and community hub.

The High Street was down at heel and vacant shops weren’t providing confidence for other businesses to come to Loftus.

The vacant Barclays Bank premises had seen better times and was selected to be repaired and adapted to be a generator for new business in the High Street. RCBC Secured the freehold of the building in December 2019, with the goal of bringing it back to life and boosting community and business confidence.

The project received funding of £985,000 from the Council’s Indigenous Grown Fund as a co-funded scheme to complement wider investment from the Future High Street Fund (FHSF), which was launched by the Government in 2018. A total of £5.8m was secured from FHSF, along with co-funding of £4.5m from the Tees Valley Combined Authority and £1m from the Loftus Area Growth Fund.

The former bank is Grade II and was constructed to a Baroque style in 1900.

RCBC conceived a new use to provide holiday lets to the upper floor levels and a self-contained retail unit at ground floor level. BBA designed the changes, managed the Building Regulation, Listed Building Consent and Planning approvals and arranged for the work to be carried out.

You can find out more about the accommodation and book here to stay-