Metro Bank PLC has completed on its new store in Reading. The bank has taken a lease on a store in the Broad Street Mall and is carrying out substantial works to the building to create an imposing corner at the front of the mall. Cushman & Wakefield is solely retained by Metro Bank on all property matter and store acquisitions.
The store, which will open later in the year, will have a ground floor of 3,700sqft and a first floor of 8,500 sq ft. The landlord Englander worked closely with Cushman & Wakefield to deliver the deal and planning. This is the second letting Englander has agreed with Metro Bank, following the letting of the bank’s head office and store at One Southampton Row, Holborn in London.
Metro Bank has also just opened its new ‘Drive-To’ store in Chiswick, prominently located on the High Road. This is Metro Bank’s 12th store opening and the first with dedicated customer parking. Several other stores are under offer with openings coming next in Slough, Hemel Hempstead, Brighton and Romford.
Cushman & Wakefield is searching for opportunities for the fast-growing bank in every town, shopping centre, retail parks and busy retailing location around London and the South East. Up to 20 stores in 2013 are planned.
Calum Ewing, Retail Agency Partner at Cushman & Wakefield who has been acting for Metro Bank for over four years, said, “These deals demonstrate Metro Bank’s commitment to opening up to 200 stores around London and the South East. The bank is going from strength to strength with all of their 12 stores which are currently open trading very well.
“Whilst the bank is focused on opening stores in Central and Greater London they also want to target commuters living in towns around the South East, and want to be in the best location in every town. The opening of the Reading store is an important step outside the M25. It will be a stunning-looking and convenient store for Metro Bank to offer customers the best service and a great banking experience.”