Former HSBC bank on the corner of Stamford High Street and Red Lion Square up for sale with CBRE

A high street building is generating ‘a lot of interest’ from prospective buyers keen to add to their property portfolio.

The HSBC branch on the corner of Red Lion Square, Stamford closed last month after a drop in footfall through the doors of the gothic revival building.

HSBC, formerly The Midland Bank, has taken a prime spot on the High Street for decades, but now the banking giant has put the building up for sale.

Estate agents CBRE have listed the property with a guide sum of £700,000, although the official price will be given on application.

Charlie Gallop, surveyor for CBRE, said while marketing only started for the building last week ‘there has been a lot of interest already’ as the property is ‘popular’.

“We have had over 20 enquiries in the first week. We imagine it will do quite well,” he said.

After a flurry of interest in the building it could be sold for higher than the guide price.

The new owner could also be bringing in tens of thousands of pounds each year in rent with a rateable value of £87,000 and ‘there is development potential of the upper floors’.

While it is likely HSBC customers would have seen just one room within 1 High Street there is much more to the 19th Century building.

It boasts five-storeys and covers 5,969sqft.

The ground floor was the banking hall with the upper floors and basement used as storage and staff areas.

There is set to be an open viewing at the beginning of July to allow prospective buyers the chance to nose around.

Which business would you like to see move into the building?