Owner of former TSB building discusses property’s future

THE OWNER of the Lerwick building which hosted the TSB bank until recently has confirmed the plan is to lease it out again or sell it on.

The TSB branch at Victoria Buildings closed on Tuesday.

The building is jointly owned by two London based companies – Joy Centre Properties Ltd and Aralbridge Ltd.

Joy Centre Properties’ Nigel Ross told Shetland News that the preference is to let the property out rather than sell it – “as we have every faith in Lerwick”.

The company has another property interest in Lerwick, having bought the former M&Co shop on Commercial Street which opened as a Superdrug last year.

The company bought TSB building – located in a prime central location – around five years ago.

Ross admitted Shetland News’ correspondence in early September came as a bit of a surprise given that the owners had – at that point – not received any notification of the impending TSB branch closure.

Advertisement2 of 10

However a spokesperson for TSB said last week it was standard procedure in these instances for the landlord to notified when the branch is being “decommissioned” – when the building is returned back to its original state.

It is the second large property in the centre of Lerwick which is set to change hands soon.

The tourist office at the Market Cross is set to close in November, but building owner Shetland Islands Council has already invited expressions of interest in a sale or lease – with news coming recently that a bid has been submitted which could see the property staying as a tourist centre.

There has been plenty of talk on social media about what folk would like to see the TSB branch as next – with a seafood restaurant often mentioned.

Meanwhile the opening hours of the TSB’s new pop-up service in Mareel have been released.

The pop-up will be open between 9am to 4pm on Tuesdays, Wednesdays and Thursdays, although it will be closed between 12.30pm to 1.30pm.