Barclays Bank - 68-70 Lordship Lane

[macroban]

Does anyone know the background to La'pec Properties (Bridgend) Ltd buying the Barclays Bank site?

[Louisa]

I have a feeling Barclays are actually relocating to the Woolwich site on the other side of the road, according to a cashier I spoke with a few days back.

[SeanMacGabhann]

That'll be good news for people who don't like to cross the road to get cash out

Hmm.. but the original site.... not a lot on t'interweb about them is there

[macroban]

As the Woolwich and Barclays are within 300m of each other one of them was due to close.

The Land Registry doesn't yet have the price paid for 68-70 Lordship Lane.

It's an interesting site as it's the first suitable site in Lordship Lane (is it?) to have been sold since the change in the planning zone criteria which means it can be redeveloped as a four storey building.

[Keef]

The Woolwich (owned by Barclays) is closing.

So, if the Barclays move to the woolwich, do you think we'll get a trendy wine bar in an old bank building? ;-)

[Marmora Man]

The actual Barclay's building has been revamped inside - when my teenage son went in to open an account a few weeks ago he was told that the Woolwich would close and some staff would be moving across to join the Braclay's team. Barcalys & Woolwich are defintely merging in some form - I keep getting junk mail about it.

[SimonM]

I was in Barclays a couple of days ago and it looked like the Woolwich was already sharing the premises inside.

[macroban]

Nice little mystery here.

So which site is closing?

Could it be the Woolwich are temporarily in Barclays while the Woolwich is being refurbished and then Barclays will be vacated?.

Why would La'pec buy a site they can't redevelop?

68-70 Lordship Lane would be a large wine bar!

[Keef]

Actually, I've just remembered my mum saying to me that she'd been told by Woolwich that from now on she'd have to go over to the Barclays, so it would seem that they won't be closing that site.

[mikese22]

i think the sale of the Barclays unit was a 'for sale - business not affected' transaction - basically a property investor buying the site to add to his 'portfolio' having a blue chip client like Barclays will add value enabling him / her / them to borrow against the site - the same principle as the sale of Canary Wharf skyscrapers (but on a smaller scale)

[SeanMacGabhann]

Thanks Mike - informative, probably accurate, intersesting... and yet, mildly disappointing news (ie not a 4-floor sushi-lap-dancing-gayfriendly-nightclub then?)

[lordship_bod]

My understanding was that the freehold interest of the barclay's site was sold at auction (and the purpose for buying the freehold is probably what mikese22 says above). If this is the case though, whoever bought it wouldnt terminate barclay's lease as they are probably very good tenants - unless of course barclays decided to quit themselves.... the plot thickens....

[Will_i_am]

I'm reliably informed by a HSBC business manking manager that the Woolwich are dfinately moving into the Barclays building. HSBC were interested in relocating to the Woolwich building and having a dedicated business banking section upstairs. However, I am now led to believe that HSBC will not be moving after all. So the usual aweful cramped 45 minute wait in there applies as usual.

[mikese22]

SeanMacGabhann Wrote:

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> Thanks Mike - informative, probably accurate,

> intersesting... and yet, mildly disappointing news

> (ie not a 4-floor

> sushi-lap-dancing-gayfriendly-nightclub then?)

sorry was a bit dull wasn't it!

i'm still trying to get my head round th sushi lap dancing - would the girls be holding sushi whilst gyrating or would the punter be eating the sushi whilst watching - would be somthing to do with the hands anyway and ensure that the 'look don't touch' rule was obeyed ;-)