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Former Lurgan First Trust Bank base back for sale again after ‘abortive negotiations’

It is understood a sale had been pending but the property is back on the market - for a considerably reduced price - two years after first being advertised

Former First Trust Bank in Lurgan

Lurgan’s former First Trust Bank premises are back on the market after plans to bring it back into productive use fell through.

It is now two years since the prominent Market Street property was advertised for sale with a £300,000 price tag.

That came three months after it ceased operating in November 2021, when First Trust opted to axe the Lurgan branch, along with six other Northern Ireland outlets.

Business from Lurgan transferred to Dungannon, as the bank blamed “diminishing” customer demand for a branch bank, a “trend that has been accelerated” by the Covid-19 pandemic.

The agent at the time said the property – which includes car parking to the rear – would be “suitable for a wide variety of uses”, including retail, office or residential, subject to planning approval being secured.

The two-storey building itself stretches to over 5,800 sq ft in terms of of floor space.

It is understood that a sale had been on the cards.

However, this has not now happened.

Agent O’Connor, Kennedy and Turtle has relisted the property, a move it says simply was “due to abortive negotiations”.

According to the agent: “The property benefits from extensive glazed frontage onto Market Street and occupies a prominent trading pitch within the town centre.

“The accommodation comprises the former banking hall, customer area, interview rooms, offices and strong room, with the first floor providing staff and office accommodation and stores.”

The former bank is also now being marketed at a reduced rate, with offers in the region of £250,000 now being invited – £50,000 less than when first put up for sale two years ago.

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