“Iconic” North Yorkshire building restored as £10m regeneration scheme continues

A Grade II listed building and the former home of Barclays Bank in Loftus, Redcar is being restored to its former glory as part of a wider regeneration scheme.

Now that the brand new Handale Car Park, which will feature electric vehicle charging points, is open, work has started on rejuvenating the beautiful Barclays building, located in the heart of the marketplace.

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.

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.”

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.

Tees Valley mayor Ben Houchen said: “It’s great to see these funds in action, developing innovative plans to bring former iconic buildings back to life. Getting more people back on the high street, visiting our superb region and supporting our brilliant local businesses is more important than ever.”

The project has begun on site and is expected to complete in the Spring of 2022.