Formal planning permission has been granted to transform Liverpool's iconic Martins Bank Building.
The historic Grade II*-listed building is set to house 140,000 sq ft of offices, restaurant and social space located within the former banking hall.
Liverpool City Council has granted developer Kinrise and majority co-owner Karrev permission to proceed with the renovation. The bank’s doors have been closed since 2009.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
Kinrise recently awarded Lendlease, the international real estate and investment group, an enabling works contract to deliver the initial refurbishment and restoration of the site, following its pre-construction contract.
The first phase of works is due to start on site imminently, focused on a significant restoration of existing glass and stonework.
Working with Lendlease and architects Red Deer and Brock Carmichael, Kinrise plans to retain and restore the building's original features.
Kinrise founder Sam Lawson Johnston said: "Having worked closely with Liverpool City Council and Historic England since our acquisition of Martins last year, we are delighted that our plans have now been given the green light.
"We are excited to see these plans come to fruition as we bring life back to this extraordinary building. We hope the renovation and return of public access will leave a meaningful legacy for the city for future generations."
Stuart Wheeldon, project lead for Martins Bank at Lendlease, added: "Martins Bank is one of Liverpool’s most iconic buildings and we are pleased to be working with Kinrise and Karrev to restore it to its former glory.
"Lendlease has a proven track record of ensuring heritage buildings are sensitively refurbished and we look forward to creating an office and leisure destination that is fit for the 21st century."
Martins was the only national UK bank to have its head office outside London.
The group traces its history back to Tudor-era financier Thomas Gresham. In 1918 it was taken over by the Bank of Liverpool, creating a national banking group that expanded across the country.
The merged group needed a grand new headquarters and in 1932 opened its grand new head office in Water Street.
READ NEXT:
Wejo boss talks up 'accelerating momentum' despite losses passing $100m
Essar Oil to build £360m carbon capture plant at Stanlow refinery
'Pressure on' H&M to compete with Primark and Boohoo as it cuts 1,500 jobs
'Very strong recovery' helps The Lowry Hotel return to profit after losing over £3m during pandemic
