A Grade II listed building, and the former home of Barclays Bank in Loftus, is set to be restored to its former glory as part of a wider regeneration scheme for the East Cleveland town.
Now that the brand new Handale Car Park, which is to feature electric vehicle charging points, is open, attention has turned to the beautiful Barclays building, located in the heart of the Market Place.
The Council secured the freehold of the building in December 2019, with the goal of bringing it back to life and boosting community and business confidence in the high street.
Plans for the building feature four self-contained holiday let apartments on the upper levels with room to sleep 12 people in total; whilst the downstairs space will be marketed as a commercial opportunity for two new retail businesses. The details of the project and all others to be delivered can be seen on the new Loftus Masterplan website at https://loftusmasterplan.co.uk.
A sympathetic refurbishment, including architectural exterior lighting, will seek to maintain, preserve and enhance this Grade II listed structure, whilst attracting new retail and culture, and offering quality visitor accommodation.
Councillor Chris Gallacher, Cabinet Member for Economic Growth, said:
“Loftus' unique positioning on the North Yorkshire Coast, close to other popular tourist destinations such as Saltburn, Sandsend and Whitby, and its proximity to the North Yorkshire Moors, makes it an ideal spot for visitors to the area to base themselves. This is why it is so important that this old market town receives the investment it needs to improve its high street and enhance its footfall and prosperity.
“The project will realise the full refurbishment of the 275m2 listed building, plus 50m2 of external landscaping, to create a sustainable, mixed-use facility."
The project is being funded by the Tees Valley Combined Authority as a co-funded scheme to complement wider investment of Future High Street Funding (FHSF), which was launched by the Government in 2018 in response to pressure on British High Streets and concern about their capacity to remain at the centre of community life. The FHSF bidding process led to the development of a masterplan for Loftus through engagement with local residents, stakeholders and partners, with the ultimate aim of making Loftus a modern market town that attracts people to live, work and set up business.
£5.8m of secured funding from the FHSF, along with co-funding of £3m from the Tees Valley Combined Authority and £1m from the Loftus Area Growth Fund will support Loftus' regeneration and the council's aspiration to increase the vibrancy of its borough's town centres.
The project has begun on site and is expected to complete in the Spring of 2022. Visit https://loftusmasterplan.co.uk.