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Historic bank building overlooking Union Terrace Gardens could become student flats

The grand Aberdeen city centre site could be in for a new lease of life.

By Ben Hendry

April 19 2024, 3:23 pm

The Union Terrace building could become 28 student flats under new plans. Image: FG Burnett

A historic Aberdeen bank building could be turned into city centre student flats overlooking Union Terrace Gardens.

The TSB building on 17-19 Union Terrace dates back to the 19th century, and welcomed its final customers in 2016.

Last year, it went up for auction with a guide price of £500,000.

The grand building is in a prominent spot in the city centre. Image: FG Burnett

Who is behind the Union Terrace student flat plans?

And now, Dunbar-based student flat operator Bauhaus is seeking permission to convert the grand building into 28 apartments.

The month after the auction, they formed the new Bauhuas Union Terrace LLP firm.

It is run by businessman Simon Flame.

Mr Flame last week tabled plans to transform the Northern Hotel in Kittybrewster into similar flats.

The Union Terrace student flats plans could bring a boost to nearby Aberdeen coffee shops. Image: Kami Thomson/DC Thomson

He is also behind proposals to turn the former offices of commercial property firm DM Hall into a new block of student flats on nearby Union Street.

How would building change?

The former TSB, on the corner of Diamond Place and Union Terrace, has a banking hall at ground floor level, upper floor offices and a basement.

A 40-seater cinema would be created in the basement, along with a gym and laundry.

There would be a reception, large “social space” and music room on the ground floor along with four rooms.

A “silent library” would be created on the first floor, along with two more bedrooms.

The rest of the rooms would be spread across the second, third and fourth floors.

Look inside historic savings bank

Papers sent to the council explain the internal changes have been planned to protect its “significant architectural features”.

Union Terrace Gardens from the Aberdeen sky, on December 13 2023. Image: Kenny Elrick/DC Thomson — It was known as the New Aberdeen Savings Bank when it opened. Image: Kenny Elrick/DC Thomson

This grand hall which has lain empty for six years would become a social space. Image: Savills

The board room would be turned into a library. Image: FG Burnett

It was extended in the 1960s and became a TSB in the 1980s.

When it went under the hammer last year, auctioneers hailed it as “a great opportunity to create a landmark development”.

Now, papers sent to the council claim the redevelopment will “bring residents back into the city centre to live, supporting the vitality and viability of the area”.

Is this how you would like to see the old TSB brought back to life? Let us know in our comments section below

Could TSB plans hint at future for other shuttered premises?

The plans come just days after the news that another impressive banking building is set to close in Aberdeen city centre.

Royal Bank of Scotland is shutting its St Nicholas branch in the coming months.

Politicians blasted the “latest in a grim litany of closures for Aberdeen”.

You can see the Union Terrace student flats plans here.