Bank proves Shaw thing as it is soldat auction

IT took a six-figure sum rather than loose change to buy the former RBS bank in Shaw.

RBS Shaw site

But for a branch that handled millions of pounds down the years it could be considered a shrewd investment.

The building went for an eventual price of £131,000 when it went under the hammer at an auction at the AJ Bell Stadium in Salford on Tuesday, July 16.

The 3,000 sq ft, two-storey bank on Rochdale Road closed on January 28, 2019 as part of a planned UK programme of branch closures.

It was originally marketed for a minimum £155,000 but pre auction guide price was £90,000.

After a brief stutter over whether anyone would bid £80,000, offers eventually came in until it nearly went for £111,000.

But a new bidder came in and the hammer went down at £131,000.

It is not known what will happen to the premises but two former RBS branches are being converted into bars.

Premises in Mossley and Denton in Tameside are currently having work done before opening their doors later this year.

Paul Thompson, managing director of auction house Pugh, who conducted the sale, said: “With its large arched windows and decorative masonry this former bank building is a distinctive property in the centre of a busy town.

“These unique and interesting properties often come onto the market via our retail banking clients as they re-evaluate their bricks and mortar assets and expand their digital services.

“The building itself is in a good location, with excellent links to Rochdale, Oldham and the north west motorway network, and has great potential for redevelopment, subject to the buyer obtaining planning consent.”

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