Former HSBC bank in Chipping Norton could be turned into hotel

The locally listed building in Chipping Norton was previously occupied by HSBC, until the bank departed in May 2017.

Now, estate agent Knight Frank has been appointed to sell the site, situated in 18-19 Market Place.

The property includes permissions for conversion to ground floor retail with residential use on the upper floors and rear wing, while final planning permissions are being sought for the creation of a 30-bedroom boutique hotel with associated bar, lounge and restaurant.

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West Oxfordshire District Council, the local authority responsible for planning, approved the application – subject to a legal agreement – earlier this month.

Real estate company Setha proposes that 36 new full-time jobs would be created in the hotel and restaurant.

A planning statement on behalf of Setha says that Chipping Norton has ‘significant untapped potential to provide high-quality tourist accommodation’, while the hotel ‘has the potential to attract high-spending clientele to the town and increase the number of visitors in the wider area’.

Rich in history, the building dates back to the late nineteenth century and was purpose built for Midland Bank, now part of HSBC.

Period features include a banking hall, which rises through two storeys.

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Josh Aspland-Robinson, surveyor in the hotel brokerage team at Knight Frank, said: “This is a unique opportunity for investors to acquire a property with plenty of development potential in a prime location within the Oxfordshire Cotswolds.

“As one of the UK’s leading tourist destinations, the Cotswolds has benefited from the continuing robustness of the staycation market throughout the UK, due to its tranquil landscapes, cosy villages, and easy accessibility which makes it an ideal and relaxing escape in these unprecedented times.”

In January 2017, the then mayor of Chipping Norton, Mike Tysoe, said he was ‘dumbfounded’ by the news that HSBC would close its branch later that year.

His comments came after the bank had announced 62 branches across the country would close in May 2017, including branches in Carterton and Kidlington.

He said at the time: “I’m actually dumbfounded because it is a busy branch. I’m a customer myself and I’m amazed that I haven’t been told.”

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After HSBC left the site, the Phone Co-op soon made the building its home in July 2017.

That saw the ethical phone, mobile and broadband provider move from the Elmsfield Industrial Estate, where it is now once again based.

The Phone Co-op remains a major employer in the town.

Knight Frank is currently inviting offers for the Market Place building.