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Former TSB bank in Aberdeen on auction with price of £500,000

The bank closed in 2016 but its hall and boardroom have been "well maintained".

The two buildings are up for auction. Image: Acuitus
The two buildings are up for auction. Image: Acuitus

A former TSB bank in Aberdeen is up for auction with a guide price of £500,000.

The Union Terrace property is a former savings bank building as well as two residential flats and will go under the hammer.

It is located in the centre of Aberdeen and overlooks Union Terrace Gardens.

The bank has been a listed building since 1967 for its Italian renaissance and windows.

It was most recently a TSB bank before it shut in 2016.

Former TSB bank brochure

The property comprises a traditional banking hall with an office extension as well as accommodation – which lies across the ground floor and three upper floors.

It also links with the stairway accessing two residential flats which have a separate access from Diamond Place.

The entire listing covers 19,540 sq ft and is split into four sections – 17-18 Union Terrace, 19 Union Terrace and two flats.

Acuitus, which is in charge of the auction, said the original building benefits from a double height banking hall.

The extension provides a modern banking hall at ground floor level, upper floor offices and a basement.

The savings bank is a listed building and has been since 1967. Image: Acuitus

All levels are accessible via a lift. The original building includes architectural features internally and externally.

Mhairi Archibald works for Acuitus and said: “The former savings bank building offers an investor a great opportunity to create a landmark development.

“It is really well positioned in the centre of Aberdeen and also overlooks Union Terrace.

“The former bank hall and boardroom have been well maintained by wooden panels, keeping its historic grandeur.”

The auction will take place on November 2 at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone or by proxy.

Other commercial properties up for grabs at the same auction are five Aberdeen harbour buildings with a guide price of £1.1 million and the Atlantic House industrial warehouse in Commerce Street, with guide price starting at £400,000.

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