Former Natwest bank goes under the hammer

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Richmond’s former Natwest bank, on the town’s market square, has been sold at Pugh’s Yorkshire property auction at Elland Road Stadium in Leeds.

The property was sold for £232,000, a £56,000 increase on the £175,000 guide price.

Natwest closed the 2,000 sq ft, three-storey premises earlier this year as part of its national programme of 179 branch closures.

Paul Thompson, MD of Pugh auction house, said: “The high-street assets held by banks across the country are being revalued as more and more people opt to manage their finances online. The branch buildings are often in prime locations right in the heart of a town, ideal for redevelopment.

“Richmond itself is a North Yorkshire gem, a gateway to the dales and a popular tourist destination within reach of the A1, so it will be exciting to see what the new owner will do withthe building.”

Established 26 years ago, Pugh is the largest commercial auctioneer outside London, and is part of property consultancy Eddisons.