Grade II listed HSBC building sold after owner slashes asking price by almost half

A 118 year-old Grade II listed building which has stood empty for almost a decade, finally has a ‘sold’ sign above its entrance.

Monday, 24th February 2020, 9:38 am

The granite building which was built in 1902 was previously the Fawcett Street branch of HSBC. In 2011 the financial giant moved its remaining Fawcett Street operations to its Market Square outlet, which had opened in 2007.

The 15,210 square foot building has three storeys and a basement and sits at number 14 on the corner with St Thomas Street, opposite other banks which are also listed buildings.

Since 2011 the old HSBC branch building has been unused and protected by decorative netting.

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The former HSBC bank at 14 Fawcett Street now has a "sold" sign above its entrance.

It has now been sold subject to contracts, though it’s not known who to and what the plans for the building are.

The website of property marketing company Lofthouse and Partners who have dealt with the sale, states that the property had been “previously marketed at OIR (offers in the region of) £650,000.”

But it was most recently for sale “on an unconditional basis at offers in excess of £350,000 for early sale.”

Lofthouse, based in nearby Frederick Street, also say the old bank is suitable for commercial or residential use “including student accommodation.”

The former HSBC branch sits less than 100 yards from Jopling House in John Street, which has 140 rooms for students in the former Joplings department store.

In December 2019 proposals were submitted to Sunderland City Council for more new student accommodation at 25 John Street.

Number 14 Fawcett Street opened in 1902 as the York City and County Bank.

It later became the a branch of the Midland Bank, however, the Midland name was phased out of the high streets during the 1990s, following its acquisition by HSBC in 1992.

Listing status is effectively granted by Historic England and means restrictions on what changes can be made to the building inside and out.

The ex-HSBC branch one of six Grade II listed buildings on Fawcett Street. The others are the branches of NatWest, Barclays and Lloyds Banks, the Vestry Buildings at numbers 21 and 22 and the Elephant Tea Rooms.