FEARS over a possible bank closure in Stroud have been quashed.
It was suspected that a third Five Valleys Lloyds bank was set to tumble when a for sale sign was placed on the Stroud branch in the last few days.
Branches in Nailsworth and Stonehouse have both closed in the past few months, leaving residents with increasingly fewer places to seek banking services with the industry favouring online custom.
A Lloyds Bank spokesman said: “The sale of the building housing our Lloyds Bank branch, Rowcroft in Stroud comes as a result of the building’s Landlord selling their freehold investment.
“Our leasehold arrangement on the building will remain unaffected by any potential sale of the freehold. We look forward to continuing to serve our customers as normal.”
The freehold has been put on the market for the hefty sum of £875,000 with rent sent at £59,000 per year.
Lloyds currently have a lease at the town centre site which stretches to September 2022.
The lot is being sold through an auction by Acuitus on Thursday, May 25.
Its sale is ‘subject to and with the benefit of the tenancy’ held by Lloyds bank – so whoever purchases the building must also take over the agreement with Lloyds to rent the site till 2022.
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